You will be logged out and redirected to the homepage

Cboe aims to secure first Bitcoin ETF

15 Aug, 2018
by David Robb
News
Cboe aims to secure first Bitcoin ETF

Cboe Global Markets Inc. is aiming to be the first company to successfully launch a Bitcoin ETF. Although many high-profile appeals have been denied recently by the SEC, the Chicago-based company believes that an exchange-traded fund is still a possibility.

"As we chip away at their issues to make them less concerned, at some point they’ll be comfortable with an ETF," said Chris Concannon, Cboe's president and chief operating officer, in an interview with Bloomberg.

Cboe was one of the first companies to offer futures contracts, back in December of last year. This crypto futures market would be a good way to prepare for a new ETF launch.

A key underlying problem that remains is knowing what level of liquidity would be appropriate, as crypto is such a new type of asset. The more liquidity, the more likely the SEC would be to approve an ETF, but this level of liquidity is unlikely to be achieved without regulatory approval in the first place.

Although he sees promise in digital assets, Concannon is still surprised by the amount of interest in the crypto market relative to its size, as "the entire crypto market is a fifth of Apple."

Follow Chepicap now on Twitter, Telegram and Facebook!

Read more about:Bitcoin (BTC)

Poll

Will Bitcoin ETF approval push $BTC over $10,000 this year?

(15 votes)

Add a comment

Check out the latest news