CBOE Global Markets Is Looking to Apply for an ETF License

There is a growing interest in the crypto market. Though Bitcoin is far from $20,000, it is undeniable how many are still optimistic regarding cryptos.

Not only are average investors interested, you also have institutional investors that are looking to get a piece of the pie once there is regulatory clarity within the market. Though there are changes happening in different parts of the world that could potentially bring regulatory clarity, there are still a lot of things that have to be done.

The SEC has recently made clarifications regarding cryptocurrencies and ICOs. According to the SEC, Bitcoin and Ethereum are considered as commodities instead of securities. Hopefully, this is already enough to get the attention of institutional investors.

ETF Licenses

CBOE Global Markets is one of the recent companies that has filed their application requesting for ETF Licenses. Even if things work according to plan for CBOE Global Markets, the trading options are expected to become available in the first quarter of next year. The SEC requested the company to comment on the application on June 26.

Recently, there are a number of applications that have been rejected. It is all because of the fact that the crypto market is still quite unregulated. CBOE Global Markets is going with Van Eyck Investment and Solid X to partner in this particular venture.

Institutional Investors Coming?

A lot of people are wondering institutional investors are actually coming. Given the growing number of investment vehicles outside futures contracts, this could potentially be a sign that there are institutional investors that are simply waiting for the right time to particulate.

The initial application by CBOE is that clients can purchase shares in SolidX. The shares that they are going to be offering will be worth 25 bitcoins. CBOE is known for being one of the very first to launch Bitcoin futures last December. However, the company has also failed to get some licenses as well. Their recent applications were rejected in March.

Bullish Prediction

Tom Lee mentioned in the past that in order for the crypto market to have another bull-run, there needs to be regulatory clarity. Regulatory clarity can shift the bearish trend in the crypto market. Tom Lee recently gave a new prediction that Bitcoin is going to reach $22,000 this year. Though it is a bit lower than the previous prediction, it only means that Bitcoin could potentially still surpass its all-time high.

Winklevoss Twins also hired someone who could diversify the products offered by Gemini. Winklevoss hired NYSE Chief Information Officer Robert Cornish. In an interview, Gemini President Cameron Winklevoss mentioned how Cornish is going to help the crypto platform in offering other products. Currently, Bitcoin, Bitcoin Cash, Ether, and Zcash are currently lined up in the platform.

Aside from bullish prediction, different countries today are also changing their mind when it comes to cryptocurrencies. South Korea, for instance, agreed that there should be a unified ruling by the G20 countries on cryptocurrencies. And just two months after, South Korea has made the necessary changes that allow blockchain technology to grow.