Published on January 30, 2024 18:55 GMT+00:00edited on January 30, 2024 19:01 GMT+00:00

An application for spot bitcoin exchange-traded fund from Global X has been withdrawn, according to a filing from an exchange. 

Cboe BZX Exchange filed a notice of the withdrawal on Jan. 26, according to a filing notice from the Securities and Exchange Commission on Tuesday. 

The SEC approved 11 spot bitcoin ETFs on Jan. 10 after years of disapprovals over fraud and manipulation concerns. Tides turned after a D.C. court ruled over the summer that the agency had to re-review a bid from Grayscale Investments for its spot bitcoin ETF. 

Unsurprising move

Bloomberg Intelligence ETF analyst James Seyffart said Global X's withdrawal was not surprising.

"Official withdrawal request for @GlobalXETFs' #Bitcoin ETF. This is not surprising because we have known they were out …