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It was just announced in a statement from the SEC that the Cboe BZX Exchange has withdrawn a proposed rule change that would have allowed for the listing of the highly anticipated VanEck SolidX Bitcoin ETF.
The announcement gives no reason as to why the rule change has been withdrawn, though some have speculated it is being reworked so that it can be submitted again at a later date. The SEC had until February 27th to make a decision, and if it failed to do so the change would be passed by default.
Twitter of course had an immediate response to the announcement.
Did we expect anything different?
— Trajan (@trajanmex) January 23, 2019
Likely a move that came after conversations with officials. I am going to assume they will revamp their application and address the concerns. $BTC https://t.co/4IlzC0F1eb
The year is 2170.
— Emptybeerbottle (@Fullbeerbottle) January 23, 2019
"BREAKING NEWS! #Bitcoin ETF falls through again!"
*people shocked*
⚠️⚠️BREAKING:
— Jacob Canfield 🔥I Love Crypto YouTube Channel (@ILoveCrypt0) January 23, 2019
CBOE withdrew ETF proposal.
⁉️Interpretation:
Short term volatility incoming, but most likely will see a recovery since I think the market had already priced this news in.
✅ Best to wait for stability as I think it’ll swing hard. https://t.co/MfuYuIm9v0 pic.twitter.com/R5KKgIgb4A
So far the markets have seen a small dip on this news, though it has as of now been only minor.
Stick with Chepicap for any developments as this unfolds!