The Block: Path to first SEC-approved bitcoin ETF diverges as VanEck withdraws and Bitwise charges ahead

Quick Take VanEck and SolidX withdrew their bitcoin exchange-traded fund (ETF) application to the Securities and Exchange Commission (SEC) last Friday On the other hand, Bitwise, which also applied for a bitcoin ETF, is still waiting for the SEC&#8217;s final decision, hoping that its different approach to custody and pricing can win an approval Some suspect that the SEC is applying a higher standard when it comes to cryptocurrencies due to their novelty, although others argue that the market infrastructure is just not mature enough for the SEC to feel comfortable with a bitcoin ETF