Home / Business / "We'll come back and get back in" – The US government closes the Bitcoin ETF

"We'll come back and get back in" – The US government closes the Bitcoin ETF

The US Securities and Exchange Commission (SEC) has announced that the Chicago Board Options Exchange (CBOE) has withdrawn its plans for an exchange-traded Bitcoin Fund (ETF).

Van Eck: Bitcoin ETF "We Will Refile"

A document released on January 22 confirms the turnaround, with fund manager VanEck and developer SolidX possibly offering the first Regulated Bitcoin ETF on the US market ,

"On January 22, 201

9 (CBOE), the company withdrew the proposed rule change," it states.

Companies first filed the proposal with the SEC last June. After several delays, there was great hope that this year will see a positive decision in the first quarter. Well, according to the commentators, this deadline stops existing.

Jan Van Eck, VanEck Associates, told the mainstream media that the current status of the SEC due to the ongoing US government deadlock meant that the negotiations would not resume until later.

"… We discussed the Bitcoin related issues with the SEC. Custody, market manipulation, prices – and that had to stop, "he told CNBC.

… Instead of just trying to slip through, we had to file the motion and we'll get back into the discussions when the SEC in Gang comes

Bitcoin does not care

Unlike earlier decisions related to ETFs, the message seemed to have little impact on the Bitcoin price. 0 0 lost in the 24 hours just 0.8 percent time to press Thursday.

Opinions have become more suspicious of the benefits that an ETF would have for Bitcoin in the past six months.

While lay investors have traditionally claimed their introduction would strengthen the clout of the cryptocurrency through institutional commitment, others were bearish, arguing in return that non-custodial investment and a potential His weight for the latter camp said:

I am not active for an ETF or Wall Street-managed funds in general. It could cause more problems than it's worth.

Similar reactions also occurred after British market researcher Mati Greenspan (19459024) from the UK reported that the event was "good" and "good". Power Move "by VanEck.

The SEC itself seemed to be in two directions regarding the VanEck / SolidX proposal. Asked to clarify several issues, SEC SEC Commissioner Hester Peirce said in November that ETF approval was "quite possible".

What do you think about the withdrawal of the Bitcoin ETF? Let us know in the comments:

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