Chicago Board options exchange (CBOE Global Markets) sent to the Commission on securities and exchange Commission (SEC) an application for the opening of another OTC bitcoin investment Fund (ETF), which intends to trade stocks SolidX. This writes BitcoinExchangeGuide.
The SEC has requested comments on the application June 26. It is assumed that the stock price SolidX will be 25 BTC. However, even if the CBOE get a positive response, the launch of a bitcoin ETF will be held no earlier than the first quarter of 2019.
As the newspaper notes, in the past, the SEC has repeatedly rejected requests to launch a bitcoin ETF, but this time the application was filed after several recent statements by the Commission that it has no plans to classify bitcoin and Ethereum as securities.
In this regard, and in light of more liberal legislation regarding cryptocurrencies in countries like Malta, the Commission can think about how to make the American market more competitive.
We will remind, in July of 2016 SolidX Partners Inc has filed a request to launch an ETF based on bitcoin. It was assumed that the Fund will be traded on the new York stock exchange (NYSE), however, in March 2017, the SEC completely rejected.
However, in early June SolidX filed another application, this time together with the asset management VanEck Associates Corp. Estimated ETF has received the name VanEck SolidX Bitcoin Trust will be insured against theft and loss of access to funds. Also it will be linked to the new index from Van Eck, which is exchanges will collect the price of bitcoin with the US-based over the counter (OTC) platforms.
Also this is not the first application of this kind for HIS own – in December 2017, the exchange has sent to the Commission requests for changes to the rules, allowing in the future to launch six exchange-traded funds (ETFs) based on bitcoin futures.