- July 12, 2018
- Posted by: Bitcoin Center NYC
- Category: The Latest Bitcoin News
Progress towards establishing the world’s first Bitcoin ETF took another step forward as the SEC recently published the application of the Chicago Board Options Exchange (CBOE) in partnership with Van Eyck Investment and SolidX.
In addition to the CBOE and SolidX, Gemini, the Winklevoss brothers’ crypto exchange, has been the only other exchange to file with the SEC. In March 2017, the SEC ruled against both SolidX and Gemini, citing a fear of unregulated overseas markets.
Many of these concerns revolved around cryptocurrency markets, such as in Japan and South Korea, which lacked regulatory framework and policies at the time; but since that time conditions have dramatically evolved. Adding in a partnership with a respected and well known entity such as the CBOE only increases the chances of a positive outcome from the SEC.
The cryptocurrency community can now only wait for the agency to evaluate the application and make an official determination. Should the SEC approve the application, the first Bitcoin ETF will have finally been created.