The US Securities and Exchange Commission rejected the application of Solidx Bitcoin ETF for listing, and Bitcoin ETF failed for the second time in one month

The U.S. Securities and Exchange Commission (SEC) has rejected SolidX’s request to list a bitcoin exchange-traded fund (ETF) on the New York Stock Exchange.

The decision was officially announced today, and it is the second Bitcoin ETF rejected by the SEC this month. On March 10, the regulator rejected the application of Cameron and Tyler Winklevoss to list a Bitcoin ETF on the Bats BZX exchange. Last week, the Bats exchange began to fight back against the SEC's decision and is seeking an effective review of the SEC's decision.

In the notice, the SEC cited very similar reasons for its rejection as last time, including lack of market oversight and a lack of regulation in some jurisdictions.

The SEC wrote in its notice:

“The Commission believes that, in order to meet the listing criteria, an exchange seeking to list and trade the securities of commodity trust exchange-traded products (ETPs) must meet two critical requirements, in addition to other applicable requirements. First, the exchange must have a joint oversight agreement with significant markets for trading the underlying commodity or derivative products of the commodity. Second, those markets must be regulated.”

The agency delayed a decision back in September, pushing back the final decision until this weekend. Although SEC representatives did not immediately respond to a request for comment, the SEC is expected to make some kind of decision this Friday (or postpone it again).

View the full SEC ruling