The Cboe BZX Exchange is once again asking the Securities and Exchange Commission for a proposed rule change to list and trade shares of the VanEck Bitcoin Trust, a filing on Cboe Global Markets' website shows.
The filing dated June 22 involving the VanEck Bitcoin Trust comes in the wake of BlackRock's June 15 filing with the SEC for a spot bitcoin ETF.
The filing regarding the VanEck Bitcoin Trust also comes less than four months after the SEC on March 10 issued its most recent order disapproving a proposed rule change filed with it by the Cboe BZX Exchange to list and trade shares of the trust.
Two SEC commissioners issued a statement dated March 10 criticizing the commission's decision to deny the proposed rule change. The statement from Commissioners Hester M. Peirce and Mark T. Uyeda referred to the order involving the VanEck Bitcoin Trust as "the latest in this disappointing string of disapproval orders." The SEC has yet to approve a spot bitcoin ETF.
"Because we believe that spot bitcoin (exchange-traded products) should be subject to the same standards the Commission has used for every other type of commodity-based ETP and because we believe the poorly designed test being used here is not fit for purpose and will inhibit innovation — and thereby harm investors — in our markets, we dissent," the commissioners' statement said.
On June 15, BlackRock, the world's largest asset manager, filed with the SEC to offer the iShares Bitcoin Trust.
VanEck had assets under management totaling $75.4 billion as of May 31, according to a spokesman for VanEck, who declined to comment Monday regarding the exchange's filing. An SEC spokesman on Monday also declined to comment regarding the filing.
Cboe Global Markets operates the Cboe BZX Exchange.
