Johannesburg Stock Exchange Rejects Bitcoin ETF Application, Cites Lack of Regul

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South Africa’s Johannesburg Stock Exchange (JSE) has rejected a request by the asset management firm, Sygnia, to list a new bitcoin exchange-traded fund (ETF). In justifying its rejection of the latest proposal by Sygnia, the JSE cites the “lack of a regulatory framework for cryptocurrencies as the reason.”
addition, Wierzycka says the bitcoin ETF “would have attracted attention, and in turn money, to the JSE.” In the meantime, the same report reveals that this is the second time the JSE has rejected a similar application by Sygnia. In 2017, Sygnia unsuccessfully tried to list the world’s first cryptocurrency ETF on the JSE. At the time, a former executive with the exchange, John Burke, suggested the JSE “was not ready to approve cryptocurrency listings.source