The quest for a bitcoin ETF has been a long and arduous one. The Securities and Exchange Commission (SEC) has denied multiple attempts at creating a fund that tracks the price of the digital currency.

The most recent denial was in March of this year, when the SEC rejected the proposed rule change that would have allowed the creation of the Bitwise Bitcoin ETF.

The SEC has cited two main reasons for rejecting previous attempts at creating a bitcoin ETF. The first is that the markets for digital assets are still relatively new and immature, and are therefore susceptible to manipulation.

The second reason is that there is not enough regulatory oversight of digital asset exchanges.

The SEC’s decision to deny the Bitwise ETF was met with criticism from the cryptocurrency community. Many believe that the SEC is stifling innovation and preventing investors from accessing a new asset class.

Despite the SEC’s stance on bitcoin ETFs, there are still a number of firms working on bringing such a product to market. VanEck, SolidX, and Wilshire Phoenix have all filed for bitcoin ETFs with the SEC, and their applications are still under review.

It remains to be seen if any of these products will be approved by the regulator.

In conclusion, it is still unclear if there will ever be a good bitcoin ETF. The SEC has so far been unwilling to approve any such product, due to concerns about manipulation and lack of regulation in digital asset markets.

However, there are still a number of firms working on bringing a bitcoin ETF to market, and it remains to be seen if any of them will be successful in getting approval from the SEC.