The Securities and Exchange Commission (SEC) has rejected VanEck’s Bitcoin Spot ETF, according to the SEC’s published letter yesterday.
Just recently, the SEC approved a Bitcoin Future ETF for trading.
Officially, the SEC states that it has concerns about investor safety. If there is manipulation, the SEC can not guarantee protection for investors. However, this raises the question of why the SEC has already delayed the review of documents several times this year and why only recently a BTC ETF was approved that speculates on future prices.
Whatever the real reason will be can only be speculated. The fact is that there is a much better alternative to Bitcoin ETFs, and that is to buy real Bitcoins. Anyone can buy Bitcoins on various crypto exchanges such as Binance or Coinbase. If you can’t afford to buy a whole Bitcoin, you can also buy small parts of a Bitcoin. All this is totally uncomplicated and without a middleman like an ETF.