The Chicago Board Options Exchange has re-submitted a VanEck/SolidX Bitcoin ETF proposal to the US Securities and Exchange Commission. The Cboe pulled its proposal on January 23rd to avoid a potential rejection caused by the government shutdown.
The new submission was announced by VanEck’s director of digital assets strategy Gabor Gurbacs.
— Gabor Gurbacs (@gaborgurbacs) January 31, 2019
The SEC was expected to make its final decision on the physically-backed Bitcoin ETF on February 27, following a number of delays on a decision. With the new submission, the Commission has a maximum of 240 days to make its decision.
The reboot is another signal that institutional players believe that the timing is right for a Bitcoin ETF. It also follows news from investment giant TD Ameritrade, which says it started seeing increasing demand from its clients for Bitcoin exposure when the digital asset began trading below $4,000. Bitcoin is currently trading at $3,442 according to data compiled by CoinGecko.
You can check out the full document submitted to the SEC below.
SR-CboeBZX-2019-004 by on Scribd
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. » Read Full Article «