The New York Stock Exchange (NYSE) has decided to withdraw its application to list and trade options based on the Bitwise Bitcoin ETF and the Grayscale Bitcoin Trust securities, as stated in a filing with the Securities and Exchange Commission (SEC).
Statement from NYSE
In February 2024, the Securities and Exchange Commission (SEC) published the proposal for public comment. Since then, the review term has been extended three times. Ultimately, NYSE decided to withdraw its application.
SEC Decision
Regarding the ETF applications, the Securities and Exchange Commission (SEC) has not made any public comments or provided any input. A number of Bitcoin ETFs are traded on the CBOE, which also decided to withdraw its application but subsequently re-filed it with a more comprehensive proposal.
Market Reaction
Bitcoin (BTC) experienced a 4% drop in the last 24 hours, trading near $58,000. This is primarily due to the release of the July U.S. consumer price index data, which showed a 2.9% year-on-year growth, marking the first time since 2021.
In conclusion, the NYSE's decision to withdraw its application to list the Bitwise Bitcoin ETF and Grayscale Bitcoin Trust highlights ongoing challenges and regulatory safeguards existing within the cryptocurrency market.
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