VanEck and SolidX have withdrawn their application for the launch of an exchange traded fund (ETF) for bitcoin, filed with the US Securities and Exchange Commission (SEC).
SEC repeatedly postponed the decision to approve applications from VanEck and SolidX, as well as other companies. In August, the Commission again postponed decision-making on ETF applications from Bitwise Asset Management, VanEck / SolidX and Wilshire Phoenix. Note that Bitwise, which is also awaiting approval of its application, is not going to withdraw the paper.
“Historically, obtaining SEC approval to launch new and innovative ETFs took years, so we are not surprised by the withdrawal of the application. Bitwise will continue to work on its application and will answer all questions raised by the regulator. We are going to continue to talk about industry progress, ”said Bitwise COO Teddy Fusaro.
Earlier this month, VanEck and SolidX launched a “limited version” of ETFs for bitcoin, however, apparently, the new product did not find popularity among institutional investors.
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