The Chicago Board choices Exchange’s (CBOE), together with investment company institution} VanEck and financial services company SolidX, has re-applied with U.S. Securities and Exchange Commission (SEC) for a rule change to list a Bitcoin (BTC) exchange-traded fund (ETF). VanEck digital asset strategy director Gabor Gurbacs proclaimed the public filing on January. 31.

ETFs are securities that track a basket of assets proportionately represented within the fund’s shares. They’re seen by some as a potential step forward for the mass adoption of cryptocurrencies as a regulated and passive investment instrument.

CBOE had at the start withdrawn its request for a rule change to list a Bitcoin ETF on January. 23. A CBOE spokesperson the told Top Market Group that the decision to withdraw its request was the result of the U.S. government shutdown as the end of the review period on February. 27 approached. Some legal experts noted at the time that the SEC was operational on a limited basis due the shutdown, that was the results of a political impasse over a proposed wall on the U.S.–Mexico border.

The application method has experienced many delays, because the SEC pushed back its call on multiple occasions. The firms 1st filed with the SEC to list a Bitcoin-based ETF on June 6, 2018. subsequently in August, the commission delayed its call on listing the ETF until Sept. 30. The commission then requested more comments concerning the decision, claiming that the agency has not “reached any conclusions with reference to any of the issues” on the rule modification.

In Dec, the decision was delayed once more, and because the proposed rule change was 1st published in the Federal Register on July 2, 2018, the utmost period of consideration fell 240 days later, on Feb. 27, 2019.

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