CBOE Files For Bitcoin ETF License With SEC

United States regulator, the Securities Exchange and Commission (SEC), has received an application for a Bitcoin ETF (exchange-traded fund) license from Chicago Board Options Exchange (CBOE) Global Markets. While other applications have been turned down by the watchdog, a Bitcoin ETF looks like it will have a better chance of success.

This comes amid much speculation of financial funds moving to directly offer cryptocurrency investment vehicles beyond the futures contracts that are currently on offer, which has fueled a widespread opinion that crypto is on the cusp of a massive investment wave from institutional investors.

In the past, the SEC has taken a rather hard stance on crypto-backed funds. Many license applications have been rejected. Two applications filed by VenEck SolidX BTC Trust were rejected in March of 2017. The rejection took place on account of the violation that the cryptocurrency market was wholly unregulated.

The difference now is that the SEC recently commented that Bitcoin and Ethereum were not securities, which may help open the door to them becoming tradeable as ETFs.

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