CBOE: Bitcoin ETFs will appear soon

Chris Concannon, president of the Chicago Board Options Exchange expressed confidence that soon there will be Bitcoin-based exchange-traded funds (ETF)
08 November 2017   598

President of the Chicago Board Options Exchange (CBOE) Chris Concannon in an interview with Bloomberg expressed confidence that soon the financial market will have Bitcoin-based exchange-traded funds (ETF).

In general, as the CBOE head admitted, he believes in the development of the crypto-currency market and considers bitcoin a new class of asset.

With regulated futures of a certain asset class like a bitcoin, you do have an opportunity to introduce ETFs and over time we do envision ETFs coming to market.

Chris Concannon

President, CBOE

This summer, CBOE has entered into a partnership with the Gemini Winklewos Brothers Exchange; by the end of this year the exchange plans to launch a trade in crypto-currency derivatives. Like the CME Group, the Chicago Board Options Exchange is currently awaiting appropriate approval from the financial regulator. 


SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   133

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission