2021-3-2 15:41 |
The Chicago Board Options Exchange (Cboe) has filed to list the proposed Bitcoin exchange-traded fund (ETF) from VanEck.
Cboe submitted its completed 19-b form to the United States Securities and Exchange Commission (SEC) on March 1, 2021. The application outlined its intention to list and trade shares of VanEck’s Bitcoin ETF. Investment company VanEck submitted its own application for the fund earlier this year.
Once the SEC has acknowledged the filing, it has 45 days to approve or decline the application. In the event it needs more time to consider, it can also choose to extend the review.
Cboe and VanEck Try AgainThis isn’t the first time the exchange has filed such an application to the SEC. Cboe has consistently been attempting to get a Bitcoin ETF approved in the US.
In 2019, Cboe partnered with VanEck and SolidX to apply for a rule change proposal from the SEC. They attempted this more than once, updating the proposal before finally withdrawing.
VanEck has been pushing for a Bitcoin ETF even longer than Cboe, with its attempted filings taking on different shapes to avoid rejection by the SEC. It even filed a ‘limited’ ETF in 2019 which was only offered to institutions and fell into an SEC exception.
The SEC and ETFThe SEC has not been vague about its concerns when it comes to a Bitcoin ETF. It has rejected a number of filings citing a list of concerns for each case.
One of the most explosive rejections being that filed by the Winklevoss Twins in 2018. Their proposal was rejected by the commission citing a lack of local trading volume and manipulation concerns.
Those fighting to get the US on board with ETFs have not been shy about their disappointment in the SEC for blocking their steps to trade.
In a tweet announcing the most recent filing by Cboe, VanEck’s Digital Asset Strategist Gabor Gurbacs said: “It’s time for U.S. regulators to step up to the plate and approve a Bitcoin fund. Europeans have ETPs. Canadians have ETFs. ETFs bring many benefits to markets…”
It is hoped by those who have been waiting for a positive ruling that the meteoric surge in the Bitcoin price could bolster the argument for interest and value in a Bitcoin ETF.
The post Cboe Applies to List Vaneck Bitcoin ETF through SEC Filing appeared first on BeInCrypto.
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