Cboe Pulls Its Proposal for SolidX/VanEck Bitcoin ETF

cryptocuser 2 min read 238

Founded in June of 2018, the effort had been VanEck’so third, along with its impending decision was viewed as the industry’s greatest chance at procuring the its first ETF after a comprehensive collection of unsuccessful proposals, including a few by Gemini’s Winklevoss brothers. The final choice for the ETFs approval was delayed a few times, but attaining its limitation for flaws, the SEC wasn’t anticipated to have left a conclusive choice until February 27, 2019 — almost a month from today.

Bitcoin Magazine achieved to a VanEck representative for remark but, in the time of publication, has not got a reply.

The announcement did not give any reason for why the program was withdrawn. As America grapples with a over month-long government shutdown, community chatter has speculated about how it may affect the ETF acceptance process. A common misconception became it would get automatically accepted, a falsehood that’s been contested by Twitter’s crypto attorney community.

The Chicago Board of Exchange (Cboe) is pulling the plug on the SolidX along with VanEck bitcoin exchange traded fund (ETF) suggestion, including another twist into some regulatory saga that may ’t even seem to locate a finish.
If approved, the rule change will have given the Cboe clearance to list the world’s first bitcoin ETF, an investment product which software/financial services company SolidX and investment firm VanEck have been building within the last couple of decades.

According to a January 23, 2019, announcement from the U.S. Securities and Exchange Commission (SEC), the trade operator sent the agency a petition to withdraw its application for a proposed rule change in the SEC’s no consideration.

Published at Wed, 23 Jan 2019 20:53:50 +0000