Chicago Board Options Exchange (CBOE) has filed a Form 19b-4 with the US Security and Exchange Commission (SEC) to list Fidelity’s Wise Origin Bitcoin ETF. This would be the second listing request by CBOE for a Bitcoin ETF after it filed to list VanEck’s Bitcoin-based Exchange-traded fund. In its filing CBOE suggested that the decision to list a Bitcoin ETF was taken after analyzing various factors and they have come to a conclusion that potential manipulation of a Bitcoin exchange-traded product has been “sufficiently mitigated.”
CBOE has started filing with the SEC to list two Bitcoin ETFs while the regulatory body which recently saw an administration change is yet to approve the first of the 8 Bitcoin ETF filings. SEC recently delayed the decision on VanEck filed ETF proposal by a couple of months. While the US regulatory body is yet to approve a crypto ETF, its North American neighbor Canada has already approved a Bitcoin ETF and quite a few Ethereum ETFs, the most prominent one being that of Purpose Group.
Gary Gensler’s Takeover as SEC Chair is a Boon or Bane for Crypto World?
Gary Gensler took over as the SEC head after the Presidential overhaul and Gensler’s appointment was greatly rejoiced by the crypto-verse given his past tenure as a professor at MIT where he taught blockchain technology and cryptocurrencies. Many crypto proponents believe his understanding of digital assets could make way for progressive crypto regulation. However, Gensler’s recent testimony before the House of Financial Service Committee regarding the GameStop saga and Robinhood exchange really daunted the confidence of many.
Gensler in his appearance talked about the need for updated regulation to ensure better investor protection and avoiding market manipulation scenarios. During the testimony, he also talked about the need for regulating the crypto universe better and “could benefit from greater investor protection.”