The Chicago Board Options Exchange (CBOE) global markets is seeking approval from the US SEC (Securities and Exchange Commission) to list shares of the VanEck’s Bitcoin Exchange Traded Fund (ETF).
On Monday, March 1, CBOE filed a Form 19b-4, thus formally announcing its plans to list and trade shares of the VanEck Bitcoin Trust.
Although CBOE filing begins the formal regulatory review process, the SEC still has to acknowledge that it is reviewing the application before the first 45-day clock starts. Within those 45 days, the regulator has to either disapprove or approve the application or extend the review period. The regulator can extend the review period up to 240 days before it can make a final decision.
According to the filing, CBOE stated that investing in Bitcoin through an exchange-traded product would provide advantages to retail investors without the need to invest in the crypto directly. Storing Bitcoin safely is a major problem for investors; therefore, such a…