🤞 SEC to review rejected Bitcoin ETF application

The U.S. Securities and Exchange Commission (SEC) announced that it will review the orders related to the disapproval of nine Bitcoin ($BTC) ETFs. Proshares, GraniteShares, and Direxion, which all had their applications rejected on Wednesday will now need to wait for a final decision from the regulator. According to commissioner Hester Peirce, SEC delegates certain decision-making responsibilities to its staff but commissioners have the ability to review those decisions. Until the review is complete the decisions are stayed and the firms must wait for a final announcement from the SEC Office of the Secretary.