$BTC #NEWS

The Securities and Exchange Commission (SEC) has given the nod to Grayscale’s Bitcoin Mini Trust ETF, allowing it to be listed and traded on NYSE Arca. The SEC’s decision comes after a thorough review process.

The approval process was detailed and involved several key components. The SEC evaluated whether the proposal met the standards in the Securities Exchange Act, particularly Section 6(b)(5). 

It requires that the rules of a national securities exchange be designed to prevent fraud and manipulation and protect investors and the public interest.

One important aspect of the approval was the establishment of a comprehensive surveillance-sharing agreement between NYSE Arca and a regulated market of significant size. 

This agreement is needed for detecting and deterring fraudulent activities related to the underlying assets, in this case, Bitcoin.