Cboe-BZX Equity Exchange Withdraws its earlier Rule Change Request to the SEC

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Cboe-BZX-Equity-Exchange-Withdraws-its-earlier-Rule-Change-Request-to-the-SEC Cboe-BZX Equity Exchange Withdraws its earlier Rule Change Request to the SECInc. recently on Tuesday, Jan. 22nd 2019, withdrew its rule change request to the United States Securities and Exchange Commission (SEC). The notice for the withdrawal request was published on the SEC website on Wednesday, Jan. 23rd 2019.

As per the notice, the Cboe-BZX Exchange withdrew its original request filed with the SEC on Wednesday, Jun. 20th 2018, in accordance with the Section 19(b) (1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust under BZX Rule 14.11(e) (4), Commodity-Based Trust Shares. On Monday, Jul. 2nd 2018, the rule change request was published on the Federal Register, further on Tuesday, Aug. 7th, 2018, the commission extended the period to decide on approval/disapproval/institute further proceedings on the proposed rule change request. On Thursday, Sep. 20th 2018, the SEC instituted further proceedings on the approval/disapproval of the rule change request, which commission further stalled, and on Thursday, Dec. 6th 2018, the SEC designated a longer period for Commission action, following which on Tuesday, Jan. 22nd 2019, the Cboe-BZX Exchange, withdrew its proposed rule change request.

The Cboe’s decision to withdraw its proposed rule change request follows the US government shutdown as the review period ends. Its believed that the SEC will have limited powers owing to the shutdown –due to a political standoff over a proposed wall on the U.S.–Mexico border. The Cboe will be re-filing the rule change request at a later date.