VanEck, SolidX and Cboe Withdraw BTC ETF Application
Main page News, Cryptocurrency, Bitcoin-ETF
Hot topic
Sept. 18, 2019
615 615

Cboe BZX has withdrawn its application to include a bitcoin ETF in its platform, which was filed earlier this year together with VanEck and SolidX.

VanEck and SolidX planned to launch their bitcoin ETFs in the Chicago Options Exchange (Cboe). According to the announcement, made on September 13, Cboe has withdrawn its request to amend the current rules, which if approved, would allow the launch of this regulated instrument.

Edward Lopez, Head of ETF Product at VanEck, has said the company will continue its efforts to bring this instrument to the market:

"We believe investors need a better solution for accessing bitcoin and we’ll continue to work towards having a publicly registered product."

Gabor Gurbacs, VanEck director of digital asset strategies, has said:

"We are committed to support Bitcoin and Bitcoin-focused financial innovation. Bringing to market a physical, liquid and insured ETF remains a top priority. We continue to work closely with regulators & market participants to get one step closer every day."

This is the second time VanEck and SolidX voluntarily withdraw their applications. In January, both companies withdrew their application during the temporary shutdown of the U.S. government.

The U.S. Securities and Exchange Commission (SEC) has repeatedly put off its decision on bitcoin ETFs. The deadline to decide whether it approves bitcoin ETFs or not is October 18.

It has recently been reported that VanEck and SolidX are considering the possibility of launching a limited version of bitcoin ETFs for institutional investors without the SEC's approval.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error