Many individuals and organizations believe that the launch of bitcoin-based futures markets have ‘opened the doors’ for bitcoin exchange-traded funds (ETF). Now that Cboe’s derivatives markets launched, new ETF filings have been sent to the U.S. Securities and Exchange Commission (SEC) from financial firms such as Vaneck and REX.
The idea of bitcoin exchange-traded funds has been a ‘holy grail’ mission for many bitcoin proponents and businesses. Many firms from the U.S. have applied to the SEC regulators office but have been either denied, or the company withdrew its application. Back in September news.Bitcoin.com reported on a few ETFs withdrawing their filings because the SEC revealed it would not review ETFs based on exchange traded bitcoin derivatives products until they exist.
“On a call with the [SEC] staff on September 20, 2017, the staff expressed the view that it is the Commission’s policy to not review a registration statement for a fund where the underlying instruments in which the fund intends to primarily invest are not yet available,” explained Vaneck at the time.
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