The U.S. Securities and Exchange Commission (SEC) officially announced that the Chicago Board Options Exchange (CBOE) withdrawn the application to launch the ETF, previously filed by VanEck and SolidX.
According to the SEC, the application was withdrawn on January 22. The commission does not state the reasons why CBOE decided to withdraw the application.
However, a lawyer, Jake Chervinsky, published his opinion on this situation on Twitter. The Chicago Board Options Exchange may have been expecting a refusal and did not want another SEC’s negative decision to influence the future of CBOE.
CBOE has withdrawn the VanEck/SolidX bitcoin ETF proposal (https://t.co/812Ym7U7Hh).
They haven't given a reason yet, but withdrawal implies that they expected denial & didn't want another SEC order setting bad precedent for the future.
There will be no bitcoin ETF in Q1 2019.
— Jake Chervinsky (@jchervinsky) January 23, 2019
We remind you, that back in June, 2018 VanEck and SolidX filed an application to launch Bitcoin ETF. The commission postponed the decision-making terms a number of times. February 27, 2019 was named the final date.
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