According to documents submitted to an exchange, GlobalX’s application for a spot Bitcoin exchange-traded fund was withdrawn.
Cboe BZX Exchange filed a notice of withdrawal on Jan. 26, according to a notice filed with the Securities and Exchange Commission on Tuesday.
The SEC approved 11 spot Bitcoin ETFs on Jan. 10 after years of opposition over fraud and manipulation concerns. That changed after a D.C. court ruled over the summer that the agency must reexamine Grayscale Investments’ bid for a spot Bitcoin ETF.
amazing moves
Bloomberg Intelligence ETF analyst James Seyffart said Global X’s withdrawal was not surprising.
“Official withdrawal request” @GlobalXETF‘ #Bitcoin ETF. “We’ve known they were out of the race since at least early December, but now that they’ve made it official, it’s no surprise,” Seyffart said in a post on X.
Eyes are now focused on the potential of spot Ethereum ETFs. fidelity and black stone We have also been applying for a spot Ethereum ETF over the past few months.
GlobalX did not respond to a request for comment.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.