My Bitcoin News reported earlier this week, the bitcoin ETF proposal which was filed by Cboe BZX Exchange to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust was withdrawn on January 22nd, 2019.
At the time, the Director of Digital Assets Strategy at VanEck/MVIS, Gabor Gurbacs, said that the filing has been withdrawn only temporarily while they are working actively on building the appropriate market structure framework to allow a Bitcoin ETF.
It remains unclear when and if the application will be filed again.
This was perhaps the most anticipated Bitcoin ETF application with its deadline set toward the end of February 2019.
However, as awaited as it was, its withdrawal didn’t seem to faze the market at all.
At the time of writing this, Bitcoin is trading at $3,580.14 This marks a very subtle decrease of 0.47 percent over the last 24 hours. The other top 10 currencies are seemingly unfazed as well.
Popular cryptocurrency trader Alex Krüger shared his two cents on the matter:
“Market barely reacted to the news and has remained flat since. This could mean either nobody cares anymore, or postponement was fully priced in. Which is odd, as even if the market was not expecting a Feb/27 approval, a X+240 postponement was certainly not priced in.”
Do you think Bitcoin needs an ETF? Let us know down below!
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