Bitcoin ETFs from VanECK not come for the time being

The cooperation VanEck/SolidX should be Bakkts competitor in the BTC ETFs. The SEC filing for the product has now been withdrawn.

CBOE withdraw the application for a permit to be unfounded

Many pointed to a kind of head-to-head race between the provider VanECK and Bakkt in the battle for the starting Bitcoin Futures. While Bakkt announced, in the meantime, further Details, that the house will launch their own product in September, it had become the operator VanECK least quiet. Actually, this product should have been since the beginning of this month for the trade to be available. Now, however, was made public: On the request for the Bitcoin ETF of the two partners VanECK and SolidX is not for the time being, decided. The reason is that the application is not simply maintained. At 13.09, the current messages in the appropriate Letter for the withdrawal of the application by the competent U.S. securities and exchange Commission SEC or the resident audit Commission.

Back-and-Forth has come to an end

This is the BZX Equity Exchange said. It belongs to the CBOE – the Chicago Board Options Exchange. A pity this step, in particular, for investors, at the latest, come by for several weeks, offered BTC ETFs for institutional investors on the taste. The CBOE is open in yesterday’s opinion, well at least for the time being, which is why the request for a Bitcoin Exchange-Traded Fund of VanEck/Solid will not be further pursued. Also, on the part of the two companies, there is still no exact information. A possible explanation may be the re-shift of the SEC’s repeated decision on the approval request. Since about half a year, the provider as well as those interested in an accurate statement of the authority was the amendment on.

Bakkt has the nose in front

Surprisingly, the retreat comes in that actually, in exactly one month from today, clear conditions should be ensured. The assessment of the SEC-specialists, and is now obsolete. It is questionable, what is the consequence of the withdrawal. For the company – as a Twitter message from a high place – stay ETFs on the Bitcoin an important and prioritised issue. Together with the authorities to continue to provide a solution in terms of regulation. Until it is so far, is Bakkt have won some customers. “Normal” investors need to practice due to the minimum requirements in the home Bakkt well for the time being in patience. Until then, this target group can keep it as usual directly in BTC or Altcoins, such as Litecoin, and Ethereum in their Wallets. Or with the corresponding capital to the services of Bakkt come to trust week.

Featured Image: By Piotr Swat | Shutterstock.com