Bitcoin ETF Application Pulled

Cboe Global Markets, the owner of the Chicago Board Options Exchange, has withdrawn its application to list the first Bitcoin exchange-traded fund. “Cboe’s decision to withdraw its filing with the SEC [Securities and Exchange Commission] to list and trade shares of the VanEck SolidX Bitcoin Trust is a function of timing related to the U.S. government shutdown as the end of the review period approaches,” the company explained. “We plan to resubmit a filing at a later date and look forward to continued discussions with the SEC.” Speaking to CNBC (starting at 4:30,) Jan van Eck, the CEO of VanEck, an investment management firm, said: "We were engaged in discussions with the SEC about the bitcoin-related issues, custody, market manipulation, prices, and that had to stop." Meanwhile, a recent formal survey of 150 financial advisors showed that 58% of them would prefer an ETF as a way to invest in crypto, according to Bitwise Asset Management, a provider of index and beta cryptoasset funds, and most recent firm to file for a Bitcoin ETF. When asked what would make them more comfortable allocating to crypto in client portfolios, 54% said “better regulation” and 35% said “the launch of an ETF.” This holds true for many family offices and institutions as well, the firm added.