![Cboe pulls its proposal for solidx/vaneck crypto [btc] etf](https://ohiobitcoin.com/storage/2019/01/mCyGH1.jpg "Cboe pulls its proposal for solidx/vaneck crypto [btc] etf")
![Cboe pulls its proposal for solidx/vaneck crypto [btc] etf](http://ohiobitcoin.com/storage/2019/01/mCyGH1.jpg "Cboe pulls its proposal for solidx/vaneck crypto [btc] etf")
The Chicago Board of Exchange (Cboe) is pulling the plug on the SolidX and VanEck bitcoin exchange traded fund (ETF) , adding another twist to a regulatory saga that can’t seem to find an ending.
According to a January 23, 2019, from the U.S. Securities and Exchange Commission (SEC), the exchange operator sent the agency a petition to withdraw its application for a proposed rule change from the SEC’s consideration.
If accepted, the rule change would have given the Cboe clearance to list the world’s first , an investment product that software/financial services company SolidX and investment firm VanEck have been painstakingly building over the past few years.
Filed in June of 2018, the attempt was VanEck’s third, and its pending decision had been viewed as at securing the its first ETF after an extensive list of failed proposals, including a couple by Gemini’s . The final decision for the ETFs approval had been , but reaching its limit for delays, the SEC was not expected to have made a conclusive decision until February 27, 2019 — nearly a month from now.
The statement did not give any reason for why the application was withdrawn. As America grapples with a more than month-long government shutdown, community chatter has speculated as to how it might affect the ETF approval process. A common misconception became that it would get automatically approved, a falsehood that by Twitter’s crypto lawyer community.
bitcoin Magazine reached out to a VanEck representative for comment but, at the time of publication, has not received a response.
Published at Wed, 23 Jan 2019 20:53:50 +0000