No Bitcoin ETF Yet as SEC Rejects NYDIG and Global X Proposals

A Bitcoin exchange-traded fund is something that the cryptocurrency community is looking forward to for quite some time. Unfortunately, the US Securities and Exchange Commission is not on the same page yet.

The United States Securities and Exchange Commission rejected two proposals to list and trade shares of spot Bitcoin exchange-traded funds, according to Reuters. 
The first one was the NYDIG Bitcoin ETF proposal, and the second one was the Global X Bitcoin Trust.
The move comes after the Commission had previously delayed its ruling on the NYDIG Bitcoin ETF proposal for two months.
In any case, this is a clear sign that the SEC has no plans of listing a physical Bitcoin ETF, despite approving similar products for futures-backed exchange-traded funds.

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