About that bitcoin ETF
.gif)
A little bit of good news that may have got lost in all the market gloom last week: the CBOE – Chicago Board Options Exchange, one of the two groups to offer bitcoin futures – has encouraged the SEC to allow the development of a bitcoin ETF, just as if it were any other commodity.
Chris Concannon, CBOE’s president, wrote to the SEC to say that the frameworks that already exist for exchange-traded funds can readily be applied to cryptocurrencies, whilst seeking to reassure them that potential problems can be addressed without significantly changing it.
‘While CBOE shares many of the concerns raised in the Staff Letter, we believe that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation.’
The letter is part of the slow but inexorable development of institutional products for bitcoin. In fact, in the coming months and years, we will likely find that institutional money eclipses ordinary retail trading on regular exchanges. The times are a-changing for bitcoin.
Red hot news, scorching wit and searing opinion pieces from Crypto Inferno.
Join us on
Telegram: https://t.me/crypto_inferno
Reddit: https://www.reddit.com/r/CryptoInferno/
Twitter: https://twitter.com/CryptoInferno_
Facebook: https://www.facebook.com/CryptoInferno/
No, no, this time is different. Put your money into Bitcoin, something that has "mathematical" value.
You got a 8.47% upvote from @postpromoter courtesy of @crypto.inferno!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
This post has received a 3.12 % upvote from @drotto thanks to: @crypto.inferno.
This post has received a 65.23% upvote from
thanks to: @crypto.inferno.
For more information, click here!!!!
Try the new Minnowhelper Bots for more information here
Help support @minnowhelper and the bot tracker by voting for @yabapmatt for Steem witness! To vote, click the button below or go to https://steemit.com/~witnesses and find @yabapmatt in the list and click the upvote icon. Thank you.
Voting for @yabapmatt
This post was upvoted and resteemed by @resteemr!
Thank you for using @resteemr.
@resteemr is a low price resteem service.
Check what @resteemr can do for you. Introduction of resteemr.
This post has received a 81.08% upvote from @lovejuice thanks to @crypto.inferno. They love you, so does Aggroed. Please be sure to vote for Witnesses at https://steemit.com/~witnesses.
Bit coin controls it all. Please go up bitcoin. Beat fiat
Institutional products bring in more money, prices rise