In a surprising turn of events, the Cboe BZX Exchange has decided to withdraw its application for a proposed rule change with the United States Securities and Exchange Commission (SEC), a move that could have paved the exchange’s way for listing shares of Global X’s spot Bitcoin Exchange-Traded Fund (ETF).

The SEC, in a notice on January 30, officially announced the withdrawal of Cboe BZX’s application for trading shares of the Global X Bitcoin Trust. This submission, which was initially filed on August 4, 2023, sought approval for a rule change aimed at facilitating the listing and trading of shares associated with the Global X Bitcoin Trust.

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