0 for 10.

The Securities and Exchange Commission has rejected proposals for nine bitcoin (BTC) exchange-traded funds from ProShares, Direxion and GraniteShares.

In orders published Wednesday, the rejections involved five ETFs from Direxion, two from GraniteShares and two from ProShares.

In its orders, the SEC said it “emphasizes that its disapproval does not rest on an evaluation of whether bitcoin, or blockchain technology more generally, has utility or value as an innovation or an investment.”

Wednesday’s rejections follow the SEC’s rejection last month of a bitcoin ETF from investors Cameron and Tyler Winklevoss. The regulatory agency has concerns about fraud and bitcoin manipulation.

ThirtyK Staff
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