The Chicago Board Options Exchange’s (CBOE), with investment firm VanEck and financial services company SolidX, has re-applied to list a Bitcoin (BTC) exchange-traded fund (ETF) with United States (US) Security and Exchange Commissions (SEC). VanEck digital asset strategy director Gabor Gurbacs announced the ETF public filing on Jan 31.
An ETF is a security that keeps track of the basket of assets proportionally represented in fund's shares. ETF is seen as the mass adoption of the cryptocurrencies as a regulated investment instrument for institutional investors.
The Chicago Board Options Exchange’s (CBOE) had withdrawn its request for ETF due to the shutdown of US government last week to protect the ETF request from rejection.
ETF has faced several delays from SEC on multiple occasions. CBOE first filled their ETF request in June 2018 and was delayed by SEC until Sep 2018.
The decision is again delayed in Dec 2018 and as per SEC rules, the decision has to be made within 240 days after submission that ends on 27 Feb 2019.
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