CBOE applies for BTC exchange-traded fund

CBOE applies for BTC exchange-traded fund
Jul 10, 2018 by Rico Wise

The biggest futures exchange in the world, CBOE, has applied for a BTC ETF to the US SEC, to allow the public market financiers BTC trading.

According to the documents filed with the SEC, CBOE points that the Trust will only finance BTC on financiers’ behalf. CBOE will offer the OTC trades for acknowledged financiers in the conventional finance market, providing insurance of funds in BTC obtained by financiers.

Currently, CBOE, along with SolidX and Gemini, is one of the few financial institutions to apply for a BTC ETF in the US. Other ETF applications were turned down by the Commission last year, because there were not sufficient policies overseas and the price was manipulated too often. Japan and S. Korea, which were the two top digital currency markets at the time, had no practical regulations and laws to control the cryptomarket.

A lot has changed in the cryptoindustry since those times. Now, the government of Japan is at the frontline in terms of worldwide digital currency regulations, leading the countries of G20 to establish unified policies for cryptoexchanges and financiers. South Korea, has finally started embracing digital currencies and ICOs, becoming more friendly with its regulations.