(Reuters) – The U.S. Securities and Trade Fee (SEC) has requested a minimum of one asset supervisor to scrap plans for a leveraged bitcoin exchange-traded fund, the Wall Road Journal reported on Wednesday, citing an individual conversant in the matter.
The SEC signaled it needs to restrict new bitcoin-related merchandise to those who present unleveraged publicity to bitcoin futures contracts, the report stated.
SEC approval for ProShares Bitcoin Technique ETF, the primary U.S. bitcoin futures-based exchange-traded fund, was seen as a turning level for cryptocurrencies and pushed up bitcoin costs. The fund started buying and selling final week.
The SEC didn’t instantly reply to a Reuters request for remark.
(Reporting by Amruta Khandekar; Enhancing by Devika Syamnath)
