Chicago Board Options Exchange with Security Exchange Commission for Bitcoin Electronic Funds Transfer – Bitcoints

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Published on July 10th, 2018 | by bitcoin

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Chicago Board Options Exchange with Security Exchange Commission for Bitcoin Electronic Funds Transfer

Chicago Board Options Exchange with Security Exchange Commission for Bitcoin Electronic Funds TransferThe United States Securities and Exchange Commission (SEC) is examining an application from the Chicago Board Options Exchange (CBOE) Global Markets which, if approved, could grant the company a coveted bitcoin ETF license, and bring new waves of institutional investors to the bitcoin arena.
The process began in June 2018, when the SEC recently sought comments from industry professionals regarding the ETF in question, which is being offered through the VanEck SolidX Bitcoin Trust – a joint venture between financial firms VanEck and SolidX.
This could potentially boost the Trust’s chances, along with other ventures seeking to establish bitcoin ETFs in the future.
“[The ETF], under normal market conditions, will use available offering proceeds to purchase bitcoin primarily in the OTC markets without being leveraged or exceeding relevant position limits,” the Trust’s application reads.
Should CBOE’s application be passed, client investment options will open in the first quarter of 2019.

Source: Bitcoinmagazine.com

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