CBOE resubmitted its joint proposal with VanEck and SolidX to the U.S. Securities and Exchange Commission, to launch the first U.S. Bitcoin exchange-traded fund.
The digital asset strategist/director at VanEck, Gabor Gurbacs, took to Twitter to make the announcement.
The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: http://cdn.cboe.com/resources/regulation/rule_filings/pending/2019/SR-CboeBZX-2019-004.pdf … pic.twitter.com/C9FP4adDE8
Just a week ago, Chepicap reported that CBOE BZX Exchange had withdrawn its proposed rule change that would have allowed for the listing of the highly anticipated VanEck SolidX Bitcoin ETF.
While little was known at the time, Jan Van Eck, the chief executive at VanEck, took to CNBC’s ‘ETF Edge’ to explain the rationale behind the sudden shift.
Van Eck explained that the US government shutdown, which took 35 days, disallowed his firm from discussing pertinent regulatory matters with the SEC.
The three firms thought it was the logical choice to pull their application, specifically in a bid to prevent an automatic rejection or approval, which could have complicated the entire situation.
At this point we can assume that the reopening of the US government reassured VanEck to go ahead with its Bitcoin ETF proposal.