US SEC deems spot Bitcoin ETFs filings as inadequate: Report By Cointelegraph

There may be a longer wait for a spot (BTC) exchange-traded fund (ETF) in the United States, as the Securities and Exchange Commission labeled investment managers’ recent applications inadequate.

According to The Wall Street Journal, the securities regulator told the Nasdaq and the Chicago Board Options Exchange (Cboe) that their filings are not “sufficiently clear and comprehensive.” These exchanges represent asset managers in the filing of the financial product.