The third Bitcoin ETF bid of the largest US option prices is facing a different economy

Cboe Global Markets Inc. yesterday submitted an application to the SEC to list a bitcoin exchange-traded fund (ETF).

The owner of the largest US option price, Cboe Global Markets Inc., proposed listing and trading the shares in a bitcoin trust of VanEck, a New York-based asset management company. If approved, the VanEck Bitcoin Trust could become the first ETF with cryptocurrency exposure in the US’s largest ETF services State Street Corporation
STT
will act as a fund administrator and transfer agent.

This is the latest attempt by Cboe to list a bitcoin ETF since 2016 when Cameron and Tyler Winklevoss proposed one of the first such products, which was later rejected by the Securities and Exchange Commission. On page 92 decision released in July 2018, the Commission mentioned the susceptibility of the bitcoin and bitcoin markets to manipulation.

Could this time be a charm? Since 2016, bitcoin’s market value has grown nearly a hundred times, recently hitting $ 1 trillion. Listed companies such as Tesla
TSLA
and MicroStrategy
MSTR
have each invested more than a billion dollars in cryptocurrency and payment giants such as PayPal
PYPL
and Square have together given more than 300 million customers access to bitcoin.


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