Direxion, ProShares and VanEck are among a handful of ETF issuers that have withdrawn filings to launch bitcoin ETFs at the request of U.S. regulators. The Securities and Exchange Commission (SEC) requested the issuers withdraw their filings.
The SEC “has denied or tabled more than a dozen proposals for funds that would own bitcoin or futures based on them, including four separate proposals submitted by Cboe, such as the Winklevoss Bitcoin Trust,” according to Reuters.
However, Cboe is urging the SEC to reconsider bitcoin-based ETFs.
“Cboe asked the SEC to evaluate each cryptocurrency fund and underlying cryptocurrency-related holdings on a case-by-case basis,” reports Reuters. “boe asked the SEC to evaluate each cryptocurrency fund and underlying cryptocurrency-related holdings on a case-by-case basis.”
Earlier this month, Grayscale Investments, the operator of the Bitcoin Investment Trust (OTCQX: GBTC) introduced the Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust. Those products are not structured as ETFs.
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