The cryptocurrency community’s best hope for a bitcoin ETF has been dashed, or at the very least delayed, as CBOE has withdrawn its application to list the VanEck SolidX Bitcoin Trust on CBOE BZX Exchange.
According to a document (reproduced below) published by the Securities and Exchange Commission (SEC) on Wednesday, CBOE withdrew its application to list the physically-backed bitcoin ETF on Jan. 22.
The letter, which was attributed to SEC Deputy Secretary Eduardo A. Aleman, did not explain why CBOE — which was also the first US exchange operator to list bitcoin futures — pulled the application.
However, as CCN reported, the prolonged government shutdown made it increasingly unlikely that the application would be approved before the February deadline. Consequently, the exchange operator may have decided to withdraw the application and re-file rather than have it denied by the SEC’s skeleton crew.