CBoE Withdraws Application for VanEck SolidX Bitcoin ETF

The Bitcoin ETF saga has taken another dramatic turn as the VanEck SolidX ETF proposal was withdrawn by CBoE. The SEC informed the public in a filing, September 17, 2019, just a month before they were to come to a decision about the ETF. If the SEC finds the ETF to have merit, Bitwise and Wilshire Phoenix will be the only two ETFs that launch. Behind the Surprise Withdrawal Nobody would’ve expected that the cause VanEck has been fighting for over the last year would suddenly be abandoned by the…

CBOE BZX Exchange Withdraws the Bitcoin ETF Filed by VanEck/SolidX

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. The Chicago Board Options Exchange’s (CBOE) BZX Exchange has withdrawn the proposed rule change in the Bitcoin ETF proposal issued by the VanEck/SolidX Bitcoin Trust. The SEC notice on Tuesday, September 17 states that CBOE decided to withdraw its proposal last week on September 13. The VanEck SolidX Trust filed for the Bitcoin exchange-traded-fund (ETF) with the…

CBOE Withdraws VanEck, SolidX Bitcoin ETF Proposal From SEC Review

The Chicago Board Options Exchange’s (CBOE) BZX Equity Exchange has withdrawn its proposal before the U.S Securities and Exchange Commission (SEC) VanEck/SolidX Bitcoin (BTC) exchange-traded fund (ETF). SEC faced Oct. 18 deadline On Sept. 17, the SEC published a notice that the CBOE had withdrawn its application for the VanEck/SolidX Bitcoin ETF on Sept.13. Although no reason was given, the decision to withdraw the proposal came just weeks after the firm began offering a limited Bitcoin ETF for institutions. The SEC had already delayed a decision on the matter, but…

VanEck’s Limited Bitcoin ETF Loses Steam, Manages to Issue Only 4 Bitcoins

The VanEck’s Limited Bitcoin ETF has proved unimpressive so far with only 4 BTC tokens issued. Some crypto experts have also slammed VanEck for its marketing gimmick saying the product is nowhere close to real ETF. After months of regulatory scrutiny, VanEck-SolidX launched a limited version of its Bitcoin ETF last week. Not having the SEC approval to launch a full-fledged Bitcoin ETF, VanEck planned the limited ETF launch to prove that there’s actually some demand for this investment product in the market. However, it looks like VanEck hasn’t succeeded…

VanEck’s Limited Bitcoin ETF Loses Steam, Manages to Issue Only 4 Bitcoins

After months of regulatory scrutiny, VanEck-SolidX launched a limited version of its Bitcoin ETF last week. Not having the SEC approval to launch a full-fledged Bitcoin ETF, VanEck planned the limited ETF launch to prove that there’s actually some demand for this investment product in the market. However, it looks like VanEck hasn’t succeeded enough to make an impact in the market. Popular crypto analyst and commentator Alex Krüger recently released some data showing that the VanEck Limited ETF has just issued 4 BTC tokens. The data shows that the…

BNY Mellon Named as Transfer Agent for Bitwise’s Proposed Bitcoin ETF

Photo: Bitwise / Twitter Bitwise has tapped into the experience of the Bank of New York Mellon. It has appointed the BNY Mellon to serve as the administrator and transfer agent for its forthcoming Bitcoin exchange-traded fund (ETF). Bitwise filed an amendment to its Bitwise Bitcoin ETF S-1 form on September 11. It then submitted the amendment to the United States Securities and Exchange Commission (SEC) on the same day. The amendment lists Foreside Fund Services as the marketing agent, BNY Mellon as the administrator and ETF custodian, and Cohen…

BNY Mellon to Act as Transfer Agent for Bitwise’s Proposed Bitcoin ETF

Bank of New York Mellon has been appointed to serve as transfer agent and administrator of  Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).  Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent.  Whether any of the aforementioned firms will act in their appointed regard depends on an eventual decision to…

Progress is Being Made on Bitcoin ETF But There’s Still Some Work

While SEC’s Clayton acknowledged that Bitcoin businesses are coming closer to satisfying his concerns, he stated that there is “work left to be done” on Bitcoin ETF. In his recent interview, SEC Chairman Jay Clayton said something interesting. He claimed that the market has taken some action regarding the talks with the U.S. Securities and Exchange Commission’s (SEC) who is pretty worried about approving a Bitcoin exchange-traded fund (ETF). However, he added, there is still “work left to be done”. He continued on saying: “Those were not trivial questions. How…

Bitcoin ETF: How SEC Exemptions Help Firms Offer Interim Products

There are several exemptions the U.S. Securities and Exchange Commission (SEC) offers that allow companies to launch their bitcoin investment products without registration. While waiting for the SEC to approve their bitcoin ETF, some firms have taken advantage of these exemptions to offer an interim product. Also read: Indian Government’s New Report Views Crypto Positively New Bitcoin Product Emerges Despite efforts by many companies, the SEC still has not approved a bitcoin exchange-traded fund (ETF). The commission has been taking its time to evaluate any proposed rule changes for such…

VanEck-SolidX Bitcoin ETF Launches Today, Will It Affect Bitcoin Price?

Institutions like VanEck and ICE’s Bakkt are flexing their muscles for luring institutional investors in the crypto market and trigger the next Bitcoin price rally. After a dismal end to August 2019 last week, the Bitcoin price pullback this week has provided some relief to investors. While there’s no actual reason behind this pullback, investors have pinned their hopes on some institutional products. Investors are looking forward to the arrival of VanEck-SolidX Bitcoin ETF and the Bakkt Bitcoin Futures. Over the last one year, VanEck has been having a tough…