US Government Shutdown Derailed Bitcoin ETF Talks, Says VanEck CEO

© Reuters.  © Reuters.

A closely-watched proposal to list a bitcoin exchange-traded fund on the Cboe BZX Exchange was withdrawn Wednesday – and the ongoing partial shutdown of the U.S. government appears to be to blame.

As CoinDesk reported, the filing was “temporarily withdrawn”, according to VanEck VanEck director of digital asset strategy Gabor Gurbacs. He also said that “we are actively working with regulators and major market participants to build appropriate market structure frameworks for a ETF and digital assets in general.”

But Jan van Eck, the chief executive officer of VanEck, indicated on CNBC Wednesday that the shutdown’s impact on the Securities and Exchange Commission (SEC) hampered the process between regulators and those seeking the ETF’s approval. According to van Eck, the discussions around the proposal – initially submitted last June and subject to subsequent approval delays – “had to stop.”

Continue Reading on CoinDesk

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave A Reply