According to several sources, the US SEC has rejected one, or even two, recent Bitcoin ETF applications indicating that the regulator isn’t ready for more new futures products for now.
Only a day following the Valkyrie filing for a leveraged Bitcoin ETF and Direxion applying for an inverse fund for bears, it seems that the SEC has decided to cancel both of them.
Bloomberg senior ETF analyst Eric Balchunas reported on Thursday that there was a high chance that the Valkyrie leveraged fund had been rejected by the SEC and mentioned that this would probably happen to the inverse fund application as well.
“Would be interesting (and poss) if they let the Inverse one go through. That one was limited to futures. Valkyrie’s was a bit of a departure from that language,” said Balchunas.
On Wednesday, AXS Investments also applied for two ETFs.