The Cboe BZX Exchange has withdrawn its application to the United States Securities and Exchange Commission for a Global X’s spot Bitcoin exchange-traded fund (ETF).
The SEC declared on January 30 that Cboe BZX had withdrawn its initial August 2023 application to list and trade shares of the Global X Bitcoin Trust.
The commission granted the application two further review extensions in September and November. However, on January 26, the exchange formally withdrew its proposal, according to the commission.
The announcement occurred approximately three weeks after the SEC granted initial approval to list spot Bitcoin ETFs on U.S. exchanges. At the time of publication, Cboe and Global X had not responded to Cointelegraph’s request for comment.
There is considerable speculation that the SEC, which has already authorized spot Bitcoin ETFs, will shortly approve to spot Ethereum ETFs. As of May, the commission anticipates rendering definitive decisions on the extensions of deadlines for offerings put forth by asset managers BlackRock and Grayscale.
While available data indicated that the Grayscale Bitcoin Trust had experienced approximately $5 billion in outflows since its transition to an ETF as of January 26, all spot Bitcoin ETFs authorized by the SEC on January 10 recorded $759 million in net inflows.
