{"id":20622,"date":"2019-01-23T20:53:50","date_gmt":"2019-01-23T20:53:50","guid":{"rendered":"http:\/\/ci027cfe63601d26c3"},"modified":"2025-01-28T16:07:52","modified_gmt":"2025-01-28T16:07:52","slug":"cboe-pulls-its-proposal-solidxvaneck-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/cboe-pulls-its-proposal-solidxvaneck-bitcoin-etf","title":{"rendered":"Cboe Pulls Its Proposal for SolidX\/VanEck Bitcoin ETF"},"content":{"rendered":"
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The Chicago Board of Exchange (Cboe) is pulling the plug on the SolidX and VanEck bitcoin exchange traded fund (ETF) proposal<\/a>, adding another twist to a regulatory saga that can\u2019t seem to find an ending.<\/p>\n

According to a January 23, 2019, statement<\/a> from the U.S. Securities and Exchange Commission (SEC), the exchange operator sent the agency a petition to withdraw its application for a proposed rule change from the SEC\u2019s consideration.<\/p>\n

If accepted, the rule change would have given the Cboe clearance to list the world\u2019s first bitcoin ETF<\/a>, an investment product that software\/financial services company SolidX and investment firm VanEck have been painstakingly building over the past few years.<\/p>\n

Filed in June of 2018, the attempt was VanEck\u2019s third, and its pending decision had been viewed as the industry\u2019s best chance<\/a> at securing the its first ETF after an extensive list of failed proposals, including a couple by Gemini\u2019s Winklevoss brothers<\/a>. The final decision for the ETFs approval had been delayed a few times<\/a>, but reaching its limit for delays, the SEC was not expected to have made a conclusive decision until February 27, 2019 \u2014 nearly a month from now.<\/p>\n

The statement did not give any reason for why the application was withdrawn. As America grapples with a more than month-long government shutdown, community chatter has speculated as to how it might affect the ETF approval process. A common misconception became that it would get automatically approved, a falsehood that has been disputed<\/a> by Twitter\u2019s crypto lawyer community.<\/p>\n

Bitcoin Magazine<\/em> reached out to a VanEck representative for comment but, at the time of publication, has not received a response.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chicago Board of Exchange (Cboe) is pulling the plug on the SolidX and VanEck bitcoin exchange traded fund (ETF) proposal.<\/p>\n","protected":false},"author":3468,"featured_media":17587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[586,944,183,3284,547],"class_list":{"0":"post-20622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-cboe","9":"tag-etf","10":"tag-sec","11":"tag-solidx","12":"tag-vaneck"},"author_data":{"id":3468,"name":"Aaron Van Wirdum And Colin Harper","nicename":"aaron-van-wirdum-and-colin-harper","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/88b6c65a7515990786b1c04473e15469e5b0d0fffef947ed629a60854e1cb426?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/cboe-pulls-its-proposal-for-solidxvaneck-bitcoin-etf.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3468"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=20622"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/17587"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=20622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=20622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=20622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}