Bitcoin Tumbles on Report of SEC Saying Spot BTC ETF Filings Inadequate

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The U.S. Securities and Exchange Commission (ETF) said recent filings to launch a spot bitcoin ETF are inadequate, reported the WSJ Friday morning.

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The news sent the price of bitcoin (BTC) plunging by $1,000, or more than 3%, in the space of a few minutes. At press time, bitcoin was trading just above $30,000.

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