The US stock exchange operator CBOE has decided to resubmit its application to list a Bitcoin ETF on one of its trading platforms days after the firm decided to withdraw its previous bid. This headline is everywhere in the latest digital currency news – seen as a ‘resurrection’ of some kind.
The VanEck SolidX Bitcoin Trust is the Bitcoin ETF that is in the spotlight which would allow wealthy traders and institutions to invest in Bitcoin through a convenient and familiar investment vehicle. The digital asset head at VanEck, Gabor Gurbacs, made the announcement on Twitter and noted that this was the product of “hard work from all teams involved.”
— Gabor Gurbacs (@gaborgurbacs) January 31, 2019
CBOE previously sought approval from the US Securities and Exchange Commission (SEC) to list the VanEck Bitcoin ETF, however, withdrew the application on January 23 after the prolonged US government shutdown which made it certain that the SEC would fall to greenlight the product before the application’s (late) February decision deadline.
With this, VanEck showed some optimism that this Bitcoin ETF proposal may be the first to win approval from the SEC. Even if the bid does ultimately succeed, however, it could be a long time before it begins trading on a regulated stock exchange.
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