Cboe Resubmits the VanEck/SolidX Bitcoin ETF Proposal for SEC Approval

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

The Chicago Board Options Exchange’s (CBOE), along with venture firm VanEck and financial services company SolidX, has re-connected with the United States Securities and Exchange Commission (SEC) for a standard change to list a Bitcoin (BTC) exchange-traded fund (ETF). VanEck digital asset strategy director Gabor Gurbacs announced the public filing on Jan. 31.

ETFs are securities that track a container of assets proportionately spoke to in the fund’s shares. They are seen by some as a potential step forward for the mass adoption of cryptocurrencies as a regulated and passive investment instrument.

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CBOE had initially pulled back its demand for a standard change to list a Bitcoin ETF on Jan. 23. A CBOE representative the revealed that the choice to pull back its demand was the result of the U.S. government shutdown as the end of the review period on Feb. 27 approached. Some lawful specialists noted at the time that the SEC was working on a restricted premise due the shutdown, which was the consequence of a political impasse over a proposed wall on the U.S.– Mexico outskirt.

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The application procedure has experienced several delays, as the SEC pushed back its choice on a different occasion. The company initially filed with the SEC to list a Bitcoin-based ETF on June 6, 2018. Subsequently, in August, the commission delayed its choice on posting the ETF until Sept. 30. The commission at that point asked for further remarks regarding the decision, claiming that the agency has not “reached any conclusions with respect to any of the issues” on the rule change.

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https://twitter.com/MagicBitcoinNow/status/1033742384595693573

In December, the ETF decision was delayed once more, and as the proposed standard change was first published in the Federal Register on July 2, 2018, the maximum period of consideration fell 240 days later, on Feb. 27, 2019.

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