Bitcoin ETF: VanECK request withdrawn

The BZX Equity Exchange of the Chicago Board Options Exchange (CBOE) has withdrawn the VanEck / SolidX Bitcoin Exchange Traded Fund (ETF) proposal from the Securities and Exchange Commission. For the retreat on September 13, the company has so far given no reason. A few weeks ago, VanEck began offering limited Bitcoin ETFs to institutions for the first time.

According to a September 17 SEC release, the CBOE withdrew its application for the VanEck / Solid Bitcoin ETF on 13 September without any reason.

 

On March 29 this year, the SEC set a longer deadline for approval of the proposal. In the further course, the period for the examination was delayed further and further. Furthermore, 18 October 2019 should be the day of the decision. On this day, the SEC should decide on this matter. Now, deciding whether to approve or reject the Bitcoin ETF is no longer relevant.

Is not there a Bitcoin ETF?

Despite the thwarted Bitcoin ETF plans , Gabor Gurbacs, director of digital asset strategies at VanEck, tweeted:

We are committed to Bitcoin and Bitcoin-related financial innovation. 
The marketing of a physical, liquid and insured ETF remains a top priority. 
We are still working closely with regulators and market participants to go one step further each day.

This statement suggests that there will probably be a Bitcoin ETF from VanEck in the future. At any rate, the Bitcoin ETFs are not yet ready for the general public.


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