Globally leading exchange holding company, CBOE, or Chicago Board Options Exchange, has filed to list the Bitcoin exchange-traded fund proposed by the asset manager, VanEck. On Jan. 3, CBOE filed a Form 19b-4 asking permission to list the ETF from the U.S. Securities and Exchange Commission. In the form, CBOE highlights the advantages an ETF would provide to retail investors across the spot Bitcoin markets, involving custody.
According to the reports, after the SEC has formally notified that it is reviewing the application, the regulator has 45 days to deliver its verdict or extend the assessment deadline. The SEC can expand its discussion period for up to 240 days before concluding its decision. If passed, the ETF would be the first crypto product provided by CBOE after February 2019, with CBOE having then concluded providing Bitcoin futures contracts. Additionally, in December 2017, CBOE became the first regulated financial institution in the U.S. to offer Bitcoin futures contracts.
VanEck filed for Bitcoin ETF with SEC
Furthermore, in January, VanEck filed for SEC approval of a Bitcoin ETF. While VanEck had earlier filed for a Bitcoin ETF in 2017, the firm also collaborated with SolidX. It is a blockchain firm striving to bring a Bitcoin ETF to market since 2015, to file for a jointly issued ETF in 20n18. The firm withdrew the joint application in September 2019, with the two firms separating shortly after. Nevertheless, VanEck’s latest filing has become the point of a lawsuit from SolidX, who claims VanEck copied their product.
Moreover, VanEck also filed for an ETF tracking the performance of significant crypto on Jan. 21. The product would seek the Global Digital Asset Equity Index’s price and performance, which it is subsidiary MV Index Solutions run. However, Cameron and Tyler Winklevoss, the founders of cryptocurrency exchange Gemini, first submitted a Bitcoin ETF in June 2016. The SEC denied the proposal. Since various firms, involving VanEck and CBOE, have filed applications with the regulatory agency, only to see them rejected or withdrawn. At the time of this publication, the SEC is yet to approve any crypto ETF product.
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