The crypto community is in a bad mood, especially after the latest Bitcoin news which show that one of the giant pioneers of a new Bitcoin revolution, CBOE, seems to have withdrawn its application to list the VanEck SolidX Bitcoin Trust on the CBOE BZX Exchange.
As a document published by the Securities and Exchange Commission (SEC) said on Wednesday, CBOE withdrew its application to list the physically-backed Bitcoin ETF on January 22nd.
The letter was attributed to the SEC Deputy Secretary Eduardo A. Aleman, who did not explain why CBOE – which was the first exchange operator to list Bitcoin futures – decided to pull the application.
Some analysts right now say that it was the prolonged government shutdown which made it increasingly unlikely that the application would be approved before the February deadline. On top of this, the exchange operator may have decided to withdraw the application and re-file rather than have it denied by SEC and its skeleton crew.
Despite the previous attempts by different firms to list Bitcoin ETFs, the SEC has yet to approve a Bitcoin ETF. The bad news is that many traders and analysts considered CBOE and the VanEck Bitcoin ETF as the best hope for one, mostly because of its structure – designed to attract wealthy investors.
The Bitcoin price dipped following the application’s withdrawal and is now trading at $3,573 with a 0.88% decline.
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