{"id":56735,"date":"2022-01-28T10:24:50","date_gmt":"2022-01-28T08:24:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56735"},"modified":"2025-09-04T07:58:16","modified_gmt":"2025-09-04T04:58:16","slug":"sec-rejects-fidelitys-bid-to-launch-a-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-rejects-fidelitys-bid-to-launch-a-spot-bitcoin-etf\/","title":{"rendered":"SEC rejects Fidelity&#8217;s bid to launch a spot Bitcoin ETF"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) <a href=\"https:\/\/www.sec.gov\/rules\/sro\/cboebzx\/2022\/34-94080.pdf\">rejected<\/a> Fidelity Investments&#8217; application to register a spot <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">Bitcoin ETF<\/a>.<\/p>\n<p>The agency cited a lack of joint oversight agreements and an inability to curb fraudulent or manipulative practices in the spot market.<\/p>\n<p>Similar wording had appeared in previous SEC rulings on bitcoin-ETF filings. In January a similar verdict awaited a filing from <a href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2022\/34-94006.pdf\">First Trust \u0438 SkyBridge<\/a>, in December \u2014 from <a href=\"https:\/\/u1f987.com\/en\/news\/sec-rejects-wisdomtrees-bid-to-launch-a-spot-bitcoin-etf\">WisdomTree<\/a>, and a month earlier \u2014 from <a href=\"https:\/\/u1f987.com\/en\/news\/sec-rejects-vanecks-application-to-launch-a-spot-bitcoin-etf\">VanEck<\/a>.<\/p>\n<p>Additionally, by February the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-delays-decisions-on-bitwise-and-grayscale-bitcoin-etf-applications\">delayed<\/a> decisions on applications from <a href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2021\/34-93790.pdf\">Bitwise Asset Management<\/a> and <a href=\"https:\/\/www.sec.gov\/rules\/sro\/nysearca\/2021\/34-93788.pdf\">Grayscale Investments<\/a> to launch similar products.<\/p>\n<p>Concurrently with the rejection of the spot Bitcoin ETF, Fidelity <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/945908\/000119312522019756\/d177178d485apos.htm\">filed an application<\/a> with the SEC to list an exchange-traded fund based on shares of metaverse-related companies.<\/p>\n<p>The Fidelity Metaverse ETF will track the Fidelity Metaverse Index, which mirrors the performance of a basket of securities of companies involved in the development, production, distribution or sale of products or services in the metaverses.<\/p>\n<p>Earlier in December, ProShares <a href=\"https:\/\/u1f987.com\/en\/news\/proshares-to-launch-metaverse-focused-etf\">filed an application<\/a> with the SEC to launch a similar financial instrument.<\/p>\n<p>Grayscale had previously forecast growth in annual revenue for the Web 3.0 metaverse sector to reach $1 trillion.<\/p>\n<p>Subscribe to ForkLog&#8217;s news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) rejected Fidelity Investments&#8217; application to register a spot Bitcoin ETF.<\/p>\n","protected":false},"author":1,"featured_media":56736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1248,128,1211],"class_list":["post-56735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-fidelity-investments","tag-sec","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56735"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56735\/revisions"}],"predecessor-version":[{"id":56737,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56735\/revisions\/56737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56736"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}