Cboe BZX Exchange Withdraws VanEck-SolidX Bitcoin ETF Proposal

Cboe BZX Exchange

The U.S. Securities and Exchange Commission (SEC) announced on Tuesday (September 17) that Cboe BZX Exchange (“BZX”) had withdrawn a proposed rule change to list SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust.

The proposal was filed with the SEC on 30 January 2019, and published in the Federal Register on 20 February 2019.

The SEC said that it needed more time to make a decision on whether to approve or disapprove this proposal on 29 March 2019. On 20 May 2019, the SEC postponed making a decision and come 12 August 2019, once again, said that it needed more time, leaving it till October 18 to make a final decision.

According to the SEC, BZX withdrew its proposal on 13th September 2019.

The digital asset strategist/director at VanEck/MVIS, Gabor Gurbacs, twitted:

“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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