By CCN.com: Cboe BZX Exchange has officially withdrawn their Bitcoin Exchange Traded Fund application. Filed last June, the official withdrawal of the application came in on January 22. A letter published on the SEC’s website makes the news official.

SEC deputy secretary Eduardo Aleman writes that the Cboe BZX Exchange rescinded its request for a rule change. The change would have allowed it to list shares of the VanEck SolidX Bitcoin Trust.

According to VanEck (video below, starts at 10:45), the US government shutdown led to the application’s withdrawal.

Bitcoin ETF Application Yanked

Filed last June, the ETF application was of great interest to Bitcoin traders. SEC chairman Jay Clayton insists a Bitcoin ETF is a long ways off. The very nature of cryptocurrency markets makes it difficult for the SEC to approve an ETF.

What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation.

Among the companies reportedly seeking an ETF are Coinbase, Gemini, and Bakkt. The most promising of the ETF contenders, the withdrawal dashes hopes of some investors. The continued delays by the SEC led a VanEck executive to recently say in frustration:

Coinbase shitcoins OK for millions of retail investors. Bitcoin ETF for institutional investors too crazy. What f*ing parallel universe is this?

Coinbase shitcoins OK for millions of retail investors. Bitcoin ETF for institutional investors too crazy. What f*ing parallel universe is this?