Bitcoin Plummets Amidst US SEC's Criticism of Spot ETF Applications

Bitcoin Plummets to Under $30K From $31K As SEC Comments On ETF

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The SEC officials have expressed dissatisfaction with the recent spot ETF applications

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Considering ETF as inadequate in terms of clarity and completeness.

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The SEC has pointed out on BlackRock and Fidelity failed to provide clear and comprehensive information

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Particularly regarding the spot Bitcoin exchange they are associated with for surveillance sharing agreements.

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In response to the SEC's comments, the prices of various cryptocurrencies exhibited a bearish trend, with Bitcoin specifically dropping around 3%.

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BlackRock and Fidelity will need to refile their ETF applications to address the regulator's concerns.

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The SEC's scrutiny of spot ETF applications reflects the cautious approach of regulators toward cryptocurrency

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