After the introduction of the Bitcoin Futures is successful, the CBOE already the next Bitcoin product. As reported by CNBC, has applied for the CBOE, the U.S. securities and exchange Commission (SEC), six with Bitcoin-related and exchange-traded funds (ETF’s) list.
Until the beginning of this month the CBOE opened in front of the rival CME exchange, the Bitcoin Futures market and gained a strong presence in the media. In particular, the launch of the Bitcoin futures contracts on the CBOE was celebrated as a great. On this wave of euphoria, the CBOE wants to ride now seemingly more and the development of exchange-traded Bitcoin products.
Bitcoin ETF’s are considered to be the “Holy Grail” in terms of the attraction of institutional investors. The exchange-traded Fund/ ETF’s would allow investors to bet on the volatility of the Bitcoin Futures contracts, but also other Bitcoin derivatives. The CBOE filed last week, six possible Fund with the SEC, as reported by CNBC.
Currently, however, it appears rather unlikely that such an ETF will be approved in the future by the SEC and coming to the market. So far, the U.S. securities and exchange Commission SEC has rejected all proposals for Bitcoin-ETF’s, among others, already in March of this year, a Bitcoin ETF, the Winklevoss twins. In insider circles it is, however, believed that the successful launch of Bitcoin Futures could change his mind at the CBOE and the CME, the SEC.
You look at Europe, then you have the Swiss Bank Vontobel, which has launched a “participation certificate” on Bitcoin with an unlimited term at the end of October of this year. In addition, two weeks ago, the French asset Manager Tobam has launched a Bitcoin Fund. Therefore, it is probably only a matter of time until the SEC can change his mind.
When looking at the temporal correlation between the Futures-Start and price Chart of Bitcoin, a clear temporal relationship can be established. In this respect, the ETF could trigger’s in 2018, possibly with a similar price rally as Bitcoin-Futures in 2017.
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