On Tuesday, Crypto-News India had reported on Chicago Board of Exchange (CBOE) filing an application to the Securities and Exchange Commission (SEC) to approve Bitcoin Equity Traded Fund (ETF).
The CBOE Bitcoin ETF, if approved, will allow over-the-counter (OTC) trading for eligible investors and at the same time, provide investors with insurance and security. According to the SEC’s official statement, the application was filed on June 20.
Over the past couple of weeks, since June 27, the SEC has opened a comment section on its website asking cryptocurrency traders if they approve of such a move.
The feedback received so far, have generally been positive with traders, requesting the regulating body to process the application in the CBOE’s favour without any delay.
Travis Williams, a trader said, “In response to the request for comments for SR-CboeBZX-2018-040 as a new ETF over the counter product, I would like to propose the following comments:
- As a long time investor in cryptocurrencies and related technologies, an ETF that is properly regulated and utilized safe physically stored assets is an important step in providing citizens a much more secure manner to invest. Most of the difficulties I’ve witnessed in the past involves issues with individuals safely storing their bitcoins/crypto.
- This ETF as a first (as well as other) are an important step in continuing to stabilize and protect investors of all sizes.
- By continuing to deny the structure of a new market, by denying ETFs and larger institutional and individual on-ramps, your department is forcing investors to utilize a diverse set of sometimes less secure, less regulated, or services that are not as stable.
I suggest action be taken to start approving ETFs versus inaction which appears to be more damaging to investors.”
A trader even commented saying, “Stop messing around and just have a respected company like Coinbase approve or reject this. You guys have terrible judgement.”
There have been no comments since July 8. Although the comment section is still open, we believe the SEC may pass a decision soon.
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