Inadequate doesn't men rejected. Plebs seem to think it was rejected. WRONG!! Blackrock, Fidelity will have to submit more supporting documents it seems
Its always the same trick. Its a nothing news and media outlets and CT make it bigger than what it really is lol. Retail sell the wick, whales fill up the bag.
All these are the manipulators of the market including the SEC. As soon as this news is released, a big liquidation wick was produced, making a lot of trades washed out. This is an immature market that reacts heavily on the news and the big players know this and they make full use of this power and its the retailers who got stopped out or get liquation of their traders and portfolio.
Of course, ETF isn't rejected yet nor it is approved, but this news have moved the market. Strange !!!