The Chicago Board Options Exchange (CBOE) has filed an application with the U.S. Securities and Exchange Commission (SEC) to list a VanEck bitcoin ETF if approved by the regulator.
This week, it was reported that in January, the CBOE filed a form
19b-4 with the SEC asking it to allow the listing of the VanEck bitcoin ETF, if the proposal receives regulatory approval. In this form, the CBOE highlights the advantages that ETFs can offer retail investors over BTC spot markets, including custodial custody:
“Access to bitcoin through an exchange-traded fund presents certain advantages for retail investors compared to spot buying BTC directly. The most noticeable advantage is the services of custodial storage of cryptocurrency.”
Although the CBOE does not disclose the name of the custodian, according to the document, it is “a trust company licensed and regulated by the New York Department of Financial Services.” Once the SEC has officially confirmed that it is reviewing the application, the regulator has 45 days to issue its verdict or extend the evaluation period. The Securities and Exchange Commission may extend the discussion period to 240 days before making a final decision.
Recall that at the end of December 2020, the asset management company VanEck filed
a preliminary application to the SEC, in which it asked for approval to launch an exchange-traded fund (ETF) for bitcoin. Shortly after, SolidX charged
VanEck is accused of unfairly ending the partnership and secretly working on the launch of a bitcoin ETF based on SolidX developments.