The VanEck Solid Bitcoin Trust decided to withdraw its Bitcoin ETF proposal filed earlier this year on January 30, 2019. The withdrawal comes just a month before SEC’s final deadline of the verdict.
VanEck director Gabor Gurbacs said that the company is firm in its decision to get “a liquid, insured and appropriately regulated physical bitcoin ETF” in the market.
The data also show a consistent drop in the ‘HODL’ frequency, while on the other hand there a growing ‘REKT’ frequency.
The U.S. SEC is set to approve or deny the two ProShares Bitcoin ETFs filed in 2017 on 23 August. If approved, the ETF’s performance would be tracked on popular exchanges like the Cboe and CME.
Bitcoin declines by over 6% in the last 24-hours while the overall cryptocurrency markets lost over $20 billion.
The wealth managing firm believes that SEC will take all its time it can, instead of falling for the market euphoria, and extend the decision till March 2019.
The CBOE Bitcoin ETF will allow for over-the-counter (OTC) trading for accredited investors while providing them with complete security and insurance.
The race for Bitcoin Exchange Traded Funds (ETFs) heats up as CBOE has filed for 6 ETFs with the SEC.