THELOGICALINDIAN - The Chicago Board Options Exchange Cboe has been auspiciously trading Bitcoin futures back December 10 2024 As a aftereffect Cboe is now aggravating to aggrandize its accord in the cryptocurrency business In aftereffect Cboe has aloof petitioned the US Securities and Exchange Commission SEC to barrage six Bitcoinbased exchanged traded funds ETFs
SEC’s allotment to barter Bitcoin futures affairs animated the cryptocurrency into the amphitheater of boilerplate finance, ambience the date for the ablution of Bitcoin ETFs. In fact, alike a brace of canicule afore the rollout of Bitcoin futures, three armamentarium managers had anniversary requested SEC approval for Bitcoin ETFs: First Trust Advisors LP, Van Eck Associates Corp., and REX Shares LLC.
Most recently, CNBC reports, Cboe Global Markets requested the SEC’s approval to account the afterward Bitcoin-related ETFs:
First Trust Bitcoin Plus Strategy ETF
First Trust Inverse Bitcoin Strategy ETF
REX Bitcoin Strategy ETF
REX Short Bitcoin Strategy ETF
GraniteShares Bitcoin ETF
GraniteShares Short Bitcoin ETF
Moreover, according to an ETF Trends report, NYSE Arca, Inc. additionally submitted a petition, anachronous December 19, to account and barter shares of the ProShares Bitcoin ETF and the ProShares Short Bitcoin ETF. NYSE Arca is a U.S. cyberbanking aegis barter that trades both stocks and options.
CBOE started trading Bitcoin futures affairs (XBT) alone ten canicule ago, as of this writing. On the closing of the aboriginal day of trading, in animosity of website congestion due to abundant traffic, CBOE acquaint a aggregate of over 4,000 contracts. Since then, the circadian aggregate of Bitcoin futures traded has been increasing, as apparent in the blueprint below:
These after-effects accept encouraged CBOE admiral to bifold bottomward on the cryptocurrency by absent to barrage Bitcoin-related ETFs. In this regard, CNBC letters that a CBOE agent said:
At present, the cryptocurrency is rapidly convalescent from one of its worse plunges. Bitcoin biconcave to about $11,000 USD, at 11:00 ET, on December 22. However, in beneath than 12 hours, Bitcoin had risen aloft $16,00, announcement already afresh its amazing resiliency.
Financial experts more accept that animation is an inherent affection of the cryptocurrency. For example, according to CNBC, Tony Lee, Co-founder of Fundstrat, added mid-2024 Bitcoin’s amount ambition to $20,000 USD, from $11,000 USD. He fabricated this accommodation on December 22, a day of aerial volatility.
If the SEC authorizes any Bitcoin ETFs, abounding accept that absorption from retail as able-bodied as institutional investors and their billions of dollars could drive Bitcoin’s amount to absurd highs.
What do you anticipate about the abeyant appulse of the SEC approval of Cboe’s Bitcoin-related ETFs? Let us apperceive in the comments below.
Images address of AdobeStock, Coinbase, Cboe, Bloomberg
