BITCOIN ETF: RESUBMITTED: Van Eck Hits Reset, Bitcoin ETF Shot Clock Restarts

After the VanEck Solid X Bitcoin ETF was pulled from consideration during the US government shutdown speculation regarding why ran its way through crypto circles around the world.

Was it headed for an obvious denial based on the US government shutdown? Was it headed for a denial simply on the merits?

Neither question was answered, but VanEck wasted little time in resubmitting the ‘rule change’ connected to its Solid X partnership Bitcoin ETF.

As shown below, the resubmission occurred yesterday: http://cdn.cboe.com/resources/regulation/rule_filings/pending/2019/SR-CboeBZX-2019-004.pdf 

The newly minted submission was announced by VanEck’s Digital Asset Director/Strategist Gabor Gurbacs, a fierce defender of the product and the crypto ecosystem itself.

The resubmission now brings about new questions. Does the regulatory clock go back to step one, or pick up somewhere else in the process? How likely is an approval, given there’d be no reason for a resubmission if a denial was in the offing?

Whatever the process looks like going forward this adds to the pent up bullish news set to grace the institutional space over the following months.

Those of you waiting/hoping that a Bitcoin ETF could serve as a bull run precursor, hope springs eternal it seems.