Two spot Bitcoin ETFs rejected by SEC

U.S. securities regulators have rejected listings for two proposed ETFs based on spot Bitcoin (BTC-USD) trading. Authorities continued to show skepticism about creating such exchange traded funds, amid lingering government worries about a lack of visibility in cryptocurrency markets. The decisions came even as the Biden administration made a high-profile push earlier in the week to secure U.S. leadership in the crypto space. The latest rejections, made by the U.S. Securities and Exchange Commission, related to the NYDIG Bitcoin ETF and Global X Bitcoin. Using the same language in its explanation for rejecting both the proposed investment vehicles, the SEC pointed to a lack of a surveillance-sharing agreements with a crypto exchange of adequate size. These deals would ensure that the market would provide trading details, such as information about clearing activity and customer identity. "The Commission has consistently required that the listing exchange have a comprehensive surveillance-sharing agreement with