SEC rejects ARK 21Shares spot Bitcoin ETF application By Cointelegraph

The United States Securities and Exchange Commission, or SEC, has officially disapproved the application for the ARK 21Shares exchange-traded fund (ETF).

In a Thursday filing, the SEC rejected a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin (BTC) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”