Bitcoin News today – September 18

Bitcoin
  • CBOE BZX Exchange Withdraws a Highly Anticipated BTC ETF Proposal
  • VanEck Introduces a New Product that Looks Like a Traditional ETF
  • Two More Bitcoin (BTC) ETF Proposals Are Up for Review

Bitcoin News Today – CBOE BZX exchange just withdrew is pending VanEck/SolidX proposal for Bitcoin (BTC) exchange-traded fund (ETF). According to a recent report, CBOE BZX Exchange has withdrawn its proposed rule change to list shares of the VanEck SolidX BTC Trust on the 13th of Sept. The firm Withdrew its proposal prior to the date scheduled for the final verdict by the US Securities and Exchange Commission (SEC). The SEC has fixed Oct. 18 to either reject or approve the proposal for a Bitcoin exchange-traded fund by CBOE exchange.

CBOE BZX Exchange Withdraws a Highly Anticipated BTC ETF Proposal

If the US SEC had approved this proposal, it would have been the first regulated exchange-traded fund for Bitcoin (BTC) in the United States. Before the firm decided to withdraw its proposal, the Bitcoin (BTC) exchange-traded fund has taken a lot of twists and turns. The approval of the proposal has been delayed several times. It was even withdrawn back in January amid uncertainty as a result of an ongoing government shutdown.

Bitcoin (BTC) Price Today – BTC / USD

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$8,566.99
-1.89%

The digital asset director at VanEck – Gabor Gurbacs – called the pursuit of the approval by the US SEC “a process.” In a statement, he said:

“We are committed to support Bitcoin and Bitcoin-focused financial innovation. Bringing to market a physical, liquid and insured exchange-traded fun remains a top priority. We continue to work closely with regulators and market participants to get one step closer every day.

VanEck Introduces a New Product that Looks Like a Traditional ETF

VanEck just introduced a new offering for institutional investors that want exposure to Bitcoin (BTC). The VanEck SolidX Bitcoin Trust shares are now open to accredited investors like hedge funds and investment advisers with over $100 in assets under management. VanEck describes the new product as a financial instrument that feels and looks like a traditional exchange-traded fund. However, the new product is not available for retail investors.

Two More Bitcoin (BTC) ETF Proposals Are Up for Review

Two more Bitcoin (BTC) exchange-traded fund proposals are up for review by the US SEC in the coming weeks. The BTC ETF proposal by Bitwise Asset Management will be reviewed on Oct. 13. The final verdict will determine if the proposal will be rejected or the SEC would give it a green light. A less volatile exchange-traded fund, which would hold BTC, US dollars and short-term US Treasury bills, is also pending. Wilshire Phoenix Funds, an investment management company based in New York, submit this proposal. This proposal will face its initial verdict by the end of this month.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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