The Chicago Board Options Exchange (CBOE) has filed an application with the US Securities and Exchange Commission (SEC) to list VanEck’s Bitcoin ETF if approved by the regulator.
It was reported this week that the CBOE filed Form 19b-4 with the SEC in January to allow VanEck’s Bitcoin ETF to be listed if approved by the regulator. In this form, the CBOE highlights the benefits that ETFs can offer retail investors over the BTC spot markets, including custodial custody:
“Accessing bitcoin through an exchange-traded fund presents certain advantages for retail investors compared to buying BTC on the spot directly. The most noticeable advantage is the services of custodian storage of cryptocurrency. ”
Although the CBOE did not disclose the name of the custodian, according to the document, it is a “trust company licensed and regulated by the New York City Department of Financial Services.” After the SEC has officially confirmed that it is considering the application, the regulator has 45 days to deliver its verdict or extend the assessment. The Securities and Exchange Commission may extend the discussion period up to 240 days before making a final decision.
Recall that at the end of December 2020, the asset management company VanEck submitted a preliminary application to the SEC, in which it requested approval for the launch of an exchange-traded fund (ETF) for Bitcoin. Shortly thereafter, SolidX accused VanEck of unfairly ending the partnership and secretly working to launch a Bitcoin ETF based on SolidX’s developments.
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