In an unsurprising development on January 30, 2024, the US Securities and Exchange Commission (SEC) announced that Cboe BZX Exchange, the prominent equity exchange firm, is withdrawing its application for a spot Bitcoin ETF through Global X, officially ending the long push for the regulatory nod. The announcement comes amid the SEC’s approval of 11 spot Bitcoin ETFs in January. This development came after a US court forced the agency to take a second look at Grayscale’s spot Bitcoin ETF application in December.

Additionally, the recent decision of Cboe BZX Exchange marks the second unsuccessful attempt at applying for a spot Bitcoin ETF listing on US stock exchanges, with the first being in 2021. On January 26, 2023, the SEC (issued) an order that disapproved Cboe BZX Exchange’s proposal to list and trade spot Bitcoin ETF shares after months of consideration. Coincidentally, the decision to withdraw its

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