New Bitcoin ETF License Application Has Been Sent By CBOE Global Markets

Chicago Board Options Exchange (CBOE) Global Markets has sent an application for a Bitcoin exchange-traded fund (ETF) license to the United States regulatory body and the Securities Exchange and Commission (SEC). So long as another applications have been rejected  by the observer, a Bitcoin ETF seems like it will have a higher chance of some achievements.

Even though the US regulatory body has traditionally taken a hard position on crypto-backed funds, the application from the exchange seems like it possibly can have a better chance to succeed and prosper. This is because the SEC lately annotated that it does not categorize Bitcoin and Ethereum as securities. As a result, this can open the door for cryptocurrencies to become tradable as ETFs.

An ETF is a inventory which trades similar to a stock but owns the main asset of the stock. Even if shareholders do not possess the asset immediately they are entitled to a share of the nincomes.

Pursuant to the documents published on the SEC website on June 26 this year, CBOE Global Markets wishes to enumerate and sell bitcoin shares supported  by asset manager VanEck and blockchain company SolidX.

Every share will cost 25 Bitcoin and the suggestion will only trade with SolidX Bitcoin Shares. This is a Bitcoin ETF that has been planned by VanEck SolidX Bitcoin Trust. Nonetheless, although the exchange does get adoption, investors won’t be able to view the trading alternatives until the first quarter of 2019.