Hi HODLers, Hiveans and Lions,

 https://images.hive.blog/DQmY1ydH3HHnXjQiDtG3wNatcHD8AmpVyE1WCy39tPPAQ6h/image.png 
[Image Source](https://cvj.ch/wp-content/uploads/2023/06/CVJ.CH-SEC-gehebelt-Bitcoin-ETF-Leverage.jpg)

SEC is not giving up yet but I can feel that we are getting closer. They have rejected the recent Bitcoin ETF filings **BUT** it is not a 100% negative.

This news sent Bitcoin price down more than $1,000.

The SEC argues that filings didn't have enough detail with respect to the “surveillance-sharing agreements," including which spot bitcoin exchange would be used. 

The SEC stated:
> The asset managers can update their applications and refile, and the CBOE indicated to the WSJ and to CoinDesk that it plans to do so.

This is obviously a negative news but it does not close the door to approve a Bitcoin Spot ETF as Blackrock or Fidelity would just need to take into account SEC's comments.

In a more recent news, we learned that Coinbase will partner with Fideliity to be its *surveillance* partner in order to resubmit their application. More info [here](https://www.coindesk.com/policy/2023/06/30/coinbase-will-be-fidelitys-surveillance-partner-for-bitcoin-etf-refiled-application-says/)


Stay safe out there,


[Source](https://decrypt.co/146642/why-did-citadel-backed-edx-list-bitcoin-ethereum-litecoin-and-bitcoin-cash)

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* [Is the SEC going to dictate which crypto CEXs can list?!](https://leofinance.io/posts/vlemon/is-the-sec-going-to-dictate-which-crypto-cexs-can-list) 

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Posted Using [LeoFinance Alpha](https://leofinance.io/@vlemon/the-news-of-the-sec-rejecting-bitcoin-spot-etfs-might-not-be-so-negative)