The Cboe BZX Exchange has withdrawn its application for a proposed rule change with the United States Securities and Exchange Commission (SEC), which could have allowed it to list shares of Global X’s spot Bitcoin ( BTC ) exchange-traded fund.

In a Jan. 30 notice, the SEC announced  that Cboe BZX had withdrawn the application for listing and trading shares of the Global X Bitcoin Trust, first filed in August 2023. The commission had twice extended consideration of the application in September and November but said the exchange had officially withdrawn its proposal on Jan. 26.

The announcement came roughly three weeks after the SEC officially approved listings of spot Bitcoin ETFs on U.S. exchanges for the first time. Cointelegraph reached out to Cboe and Global X for comment but did not receive a response at the time of publication.

Related: SEC institutes proceedings on Grayscale spot Ether ETF, pushing deadline

Following the approval of spot BTC ETFs, many speculate the SEC will soon give the green light to spot Ether ( ETF ) exchange-traded products. The commission has already pushed back deadlines on offerings from asset managers BlackRock and Grayscale, with final decisions expected in May.

Though data showed that as of Jan. 26, there had been roughly $5 billion in outflows from the Grayscale Bitcoin Trust following its conversion to an ETF, there were $759 million in net inflows across all spot Bitcoin ETFs approved by the SEC on Jan. 10.

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