Summary
Global X has withdrawn its application for a spot bitcoin exchange-traded fund (ETF), according to a filing from the Cboe BZX Exchange. The withdrawal comes after the Securities and Exchange Commission (SEC) approved 11 spot bitcoin ETFs on January 10. The move was not surprising, as it was known that Global X was no longer in the race for approval. Attention is now shifting towards the potential for a spot Ethereum ETF, as firms like Fidelity and BlackRock have applied for one in recent months.
Key Points
1. An application for a spot bitcoin exchange-traded fund (ETF) from Global X has been withdrawn, according to a filing from an exchange.
2. The withdrawal notice was filed by Cboe BZX Exchange on January 26, following the approval of 11 spot bitcoin ETFs by the Securities and Exchange Commission (SEC) on January 10.
3. Bloomberg Intelligence ETF analyst James Seyffart stated that Global X’s withdrawal was not surprising, as it had been known since at least early December that they were no longer in the race for a bitcoin ETF.