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SEC announced the withdrawal of the VanEck and SolidX application to launch Bitcoin-ETF

The Chicago Stock Exchange (Cboe) withdrew a rule change application that would allow it to launch an Exchange Fund linked to Bitcoin (ETF), previously proposed by VanEck and SolidX.

The statement was published on the website of the US Securities and Exchange Commission. UU (SEC).

According to the SEC, the proposal was withdrawn the previous day, on January 22, but this information was published only one day later.

The Commission does not mention the reasons why Cboe decided to withdraw the application; however, according to lawyer Jake Cervinski, the exchange was probably denied and he did not want another negative decision of the SEC to establish a bad precedent for the future.

"In the first quarter of 2019 Bitcoin-ETF will not be"– Chervinski added.

Recall, VanEck and SolidX submitted a joint request to start Bitcoin-ETF in June 2018. The SEC postponed the terms of decision making several times, and the final date would be February 27 this year.

In December, the aforementioned Jake Chervinski stated that the probability of approval of the VanEck and SolidX application does not exceed 10%. However, the CNBC cryptocurrency entrepreneur and expert, Brian Kelley, did not agree with his opinion: according to him, in 2019, the bitcoin funds that are expected from many of the exchanges will not receive the approval of US regulators. .

In early January, a new application for the launch of Bitcoin-ETF presented a Bitwise cryptocurrency fund. At the same time, they do not intend to abandon their previous plans to launch this investment tool, said the owners of the Gemini Winklevoss brothers.

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