No Bitcoin ETF in Q1 2019

One of most bullish factor for Bitcoin growth in 2019 is – CBOE VanEk Solidx ETF has temporarily withdrawn by CBOE. A official document is released by SEC which says ” On January 22, 2019, BZX withdrew the proposed rule change (SR-CboeBZX-2018-040).”

Possible Reasons

According the official tweet of CBOE’s Director – Gabor Gurbacs

“The Bitcoin ETF filing has been temporarily withdrawn. We are actively working with regulators and major market participants to build appropriate market structure frameworks for a Bitcoin ETF and digital assets in general. Will keep you updated.”

On CNBC ETF Edge, VanEck CEO Jan Van Eck said due to the shutdown, VanEck wasn’t able to continue discussions with the SEC on Bitcoin-related issues like market manipulation, custody, etc.

Its clearly visible that this withdrawn came out because of US Government shutdown which was being speculated by the community.

Effect on Bitcoin Price

The bitcoin price dropped less than 80$ since the announcement came out. At press time, Bitcoin was trading at 3536$(Coinbase Price).

Hitesh Malviya

Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

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