SEC tells exchanges spot bitcoin ETF filings inadequate, WSJ says

The Securities and Exchange Commission said the recent applications filed by asset managers to launch spot bitcoin exchange-traded funds are inadequate, Vicky Ge Huang of Wall Street Journal reports, citing people familiar with the matter. The SEC informed exchanges Nasdaq (NDAQ) and Cboe Global Markets (CBOE), which filed the applications on behalf of asset managers including BlackRock (BLK) and Fidelity Investments, that the filings aren’t sufficiently clear and comprehensive, sources told the Journal. Publicly traded companies in the cryptocurrency space include Bit Digital (BTBT), Coinbase (COIN), Core Scientific (CORZ), Greenidge Generation (GREE), Marathon Digital (MARA), MicroStrategy (MSTR), Riot Platforms (riot), Stronghold Digital Mining (SDIG) and TeraWulf (WULF).