A BTSP asset manager has withdrawn its request to list a bitcoin-focused investment trust on an exchange. Grayscale Investments withdrew its application to allow the Bitcoin Investment Trust to become exchange traded after it concluded there had not been enough regulatory developments surrounding bitcoin that would warrant the product's approval. The investment trust does presently trade over-the-counter. The SEC has history rejecting bitcoin-focused investment products, denying approval for an exchange-traded funds backed by Cameron and Tyler Winklevoss in March this year.
A US asset manager has withdrawn its request to list a bitcoin-focused investment trust on an exchange. Grayscale Investments withdrew its application to allow the Bitcoin Investment Trust to become exchange traded after it concluded there had not been enough regulatory developments surrounding bitcoin that would warrant the product's approval. The investment trust does presently trade over-the-counter. The SEC has history rejecting bitcoin-focused investment products, denying approval for an exchange-traded funds backed by Cameron and Tyler Winklevoss in March this year.