SEC May Approve CBOE's BTC-ETF

Anonymous source says that 'approvals will come, it is more a matter of Q4 2018 or Q1 2019'
06 August 2018   1183

On August 10, a meeting of the Securities and Exchange Commission (SEC) will take place, at which officials will determine the fate of VanEck SolidX Bitcoin Trust, approving or refusing to change the rules of trade at the Chicago Option Exchange (CBOE). This is reported by Bitcoin Exchange Guide.

It is noteworthy that CBOE also intends to create a bitcoin-ETF, which will trade in shares of SolidX, the estimated price of which will be 25 BTC apiece.

A source in the SEC, who asked to remain anonymous, stressed that the agency is interested in approving the application from the CBOE.

The Gemini decision was expected from those in the know and could have easily been predicted. Again, this stuff is more about timing than anything else. Approvals will come, it is more a matter of Q4 2018 or Q1 2019. And as I said before, that will open up the door to more crypto-based product submissions.

Source from SEC

The unnamed CBOE representative also believes that the close relationship between the exchange and the regulators will have a beneficial effect on the outcome of the meeting.

We still believe that approval of our Bitcoin ETF product is a near certainty. Just a question of timing and potential administrative delays.

Anonymous Source

Previously, VanEck and SolidX filed a joint application for the creation of VanEck SolidX Bitcoin Trust, which will be immune from theft and loss of access to funds.

It will also be tied to a new index from VanEck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   141

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.