Bitcoin ETF Withdrawn

The CBOE Bitcoin ETF that everyone was hoping would pass SEC scrutiny has been withdrawn, most likely because it did not stand a good chance of being passed right now. The blame was on the government shutdown and that the skeletal crew that the SEC has right now would not be able to pass the ETF proposal. However, I think because of the hash war and other events that showed that Bitcoin and the market can clearly be manipulated, it didn’t really stand a chance of passing anyways in the big picture. Experts are saying that an ETF will not be passed in 2019 and won’t be passed until the market matures and can stabilize down. There was a small sell-off over the weekend so the price of the ETF not being accepted may have already been priced in but if the market drops over the next few weeks, do not be surprised.

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