SEC announced the withdrawal of the application VanEck and SolidX to launch Bitcoin-ETF

The Chicago Stock Exchange (Cboe) withdrew a rule change application that would allow it to launch a Bitcoin-linked Exchange Fund (ETF), previously proposed by VanEck and SolidX.

The statement was published on the website of the US Securities and Exchange Commission (SEC).

According to the SEC, the proposal was withdrawn the day before, on January 22, but this information was published only a day later.

The Commission does not name the reasons why Cboe decided to withdraw the application, however, according to attorney Jake Cervinski, the exchange most likely expected to refuse and did not want another SEC negative decision to set a bad precedent for the future.

CBOE has withdrawn the VanEck / SolidX bitcoin ETF proposal ( https://t.co/812Ym7U7Hh ).

But it’s not a matter of SEC order setting bad precedent for the future.

There will be no bitcoin ETF in Q1 2019.

– Jake Chervinsky (@jchervinsky) January 23, 2019

"In the first quarter of 2019 Bitcoin-ETF will not ," added Chervinski.

Recall, VanEck and SolidX filed a joint application to start Bitcoin-ETF in June 2018 . SEC several times postponed the decision-making, and the final date was to be February 27 of this year.

In December, the already mentioned Jake Chervinski stated that the probability of approval of the VanEck and SolidX application does not exceed 10%. However, entrepreneur and CNBC cryptocurrency expert Brian Kelley did not agree with his opinion – according to him, in 2019 the expected bitcoin funds expected by many American regulators will not receive approval.

Earlier in January, a new application for the launch of Bitcoin-ETF filed a Bitwise cryptocurrency fund. At the same time, they do not intend to abandon their previous plans to launch this investment tool, said the owners of the Gemini Winklevoss brothers .

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