📢 ETF provider Global X has withdrawn its application to place a Bitcoin ETF. CBOE BZX Exchange filed a notice of withdrawal of its application for the Global X Bitcoin Trust on January 26, two weeks after the SEC approved 11 other Bitcoin ETFs to date. 📉

The Global X Bitcoin Trust application was submitted in August 2023, and despite two extensions for consideration in September and November, the exchange officially withdrew its proposal on January 26. The decision to withdraw the Bitcoin ETF application comes amid a challenging regulatory environment, particularly characterized by the SEC's approval of the Bitcoin ETF on US exchanges on January 10th.

Attention is now focused on the possibility of creating a spot Ethereum ETF, with notable companies such as Fidelity and BlackRock having recently filed for such products. Meanwhile, industry experts remain cautiously optimistic as they await final SEC decisions on ongoing bids for spot Ethereum.