CBOE Resubmits Bitcoin ETF Proposal for SEC Approval

The Chicago Board Options Exchange (CBOE) has resubmitted its Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded fund (ETF) proposal in collaboration with money management firm VanEck and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term company SolidX for the Securities and Exchange Commission's (SEC) approval.

According to VanEck digital asset strategy director Gabor Gurbacs, the filing with the SEC was done January 30, only a week after the firm withdrew a similar proposal due to the long persisted shutdown of the US government.

The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard work by all teams involved. Public document: https://t.co/X25lOPjiFS pic.twitter.com/C9FP4adDE8

— Gabor Gurbacs (@gaborgurbacs) January 31, 2019

VanEck CEO Jan van Eck earlier revealed that the companies were already in talks with the SEC for the approval of the Bitcoin ETF proposal, however, the US shutdown halted the process. With the final decision date of February 27 fast approaching, the firms decided to shelve their proposal anticipating a rejection by the regulator.

In addition, the SEC extended the examination process several times delaying the approval process of the Bitcoin ETFs, first extending the time it had to act on the proposal in August, then instituting formal proceedings to determine approval in December, and again extending its deadline to 2019.

Many Firms are Pushing for Bitcoin ETFs

Despite the SEC’s hostility, NYSE Arca, along with the San Francisco-based asset manager Bitwise, last month filed for the approval of a physically-backed Bitcoin ETF.

However, neither CBOE’s nor NYSE Arca’s proposal has been published to the Federal Register yet as, after the listing, the SEC will have to make a final decision on the proposal within 240 days.

The SEC earlier rejected the Winklevoss brother’s bid to list a Bitcoin ETF on the BATS exchange multiple times. The twins, however, are determined to proceed with the proposal again as in a Reddit AMA, last month, Camron Winklevoss noted: “We are committed as ever to making an ETF a reality!”