VanEck, SolidX Bitcoin ETF Proposal Withdrawn by CBOE from SEC Review
Sarah Tran Sep 18, 2019 04:43
On September 17, the US Securities and Exchange Commission (SEC) officially announced that the Chicago Board Options Exchange’s (CBOE) Equity Exchange had withdrawn its application for the VanEck/SolidX bitcoin ETF proposal on September 13.
On September 17, the US Securities and Exchange Commission (SEC) officially announced that the Chicago Board Options Exchange’s (CBOE) Equity Exchange had withdrawn its application for the VanEck/SolidX bitcoin ETF proposal on September 13.
There was no reason given in the notice published by the SEC, although the decision to withdraw the proposal came a few weeks after the investment management firms began offering a limited bitcoin ETF product for institutions under the SEC Rule 144A which allows the sale of privately placed securities to “qualified institutional buyers.”
The SEC previously once again delayed a decision on the bitcoin ETF proposal and was facing a deadline in mid-October to approve or reject the matter. The SEC is currently still reviewing the two other bitcoin ETF proposals filed by Wilshire Phoenix and Bitwise Asset Management which are facing deadlines in the next few weeks.
Gabor Gurbacs, VanEck’s director of digital asset strategies mentioned:
“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.”
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