CBOE ready to fund new Bitcoin ETF!
The United States Securities and Exchange Commission (SEC) is examining an application from the Chicago Board Options Exchange (CBOE) Global Markets which, if approved, could grant the company a coveted bitcoin ETF license, and bring new waves of institutional investors to the bitcoin arena. An insurance policy will be set in place in case granted theft or cyber attacks occur. Thus, investors can rest assured that their funds will be covered in the event of a loss.
source :bitcoinmagazine
source: Cboe
CBOE Global Markets is just one of the most recent companies to put up an application for an ETF licenses. The SEC requested comments on the application on June 26th. The proposal only will trade with SolidX Bitcoin Shares, and each share will be worth 25 Bitcoin. Even with approval, consumers cannot expect to see trading options available until the first quarter of 2019. Since the SEC has decided that they will not be regulating Bitcoin, there is no worry about unregistered securities.
source: Vimeo
However, the U.S. is way behind other countries that are making great strides in their regulatory measures. Malta recently spoke about the three new laws that they setup on July 5th to help the crypto market to thrive there. In that announcement, it was revealed that Europe’s largest ETF trader plans to make the move to the crypto industry. With these big moves, the SEC should focus more strongly to help the U.S. be more competitive in the industry to keep up.
source: bitcoinexchangeguide
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