'Struggling for clarity' in the spot bitcoin ETF pursuit
$Bitcoin (BTC.CC)$ As applications for a spot bitcoin exchange-traded fund head to the SEC for review, cryptocurrency experts remain cautious as to whether proposed surveillance-sharing agreements will be the key to the approval process.
"We'll keep giving more information to our regulators," Cboe CEO Ed Tilly told CNBC's Bob Pisani on "ETF Edge" on Monday. "We want them to have every bit of information that we have at our fingertips so that the surveillance and the confidence for all investors is top notch."
Cboe has several applications for bitcoin ETFs to list on its exchange, including funds from WisdomTree, VanEck and Ark. This week the Securities and Exchange Commission acknowledged submissions from several firms including VanEck and WisdomTree, with those proposals appearing Wednesday on the Federal Register.
"This is maybe a step closer, but very difficult to handicap what's going to come out of a regulator," Tilly said.
Last week, the bitcoin community gained a partial victory after a judge in the Southern District of New York ruled that Ripple's $XRP (XRP.CC)$
could be considered a security in some cases. The court ruling marked the SEC's first loss in enforcing its crypto regulations
"We'll keep giving more information to our regulators," Cboe CEO Ed Tilly told CNBC's Bob Pisani on "ETF Edge" on Monday. "We want them to have every bit of information that we have at our fingertips so that the surveillance and the confidence for all investors is top notch."
Cboe has several applications for bitcoin ETFs to list on its exchange, including funds from WisdomTree, VanEck and Ark. This week the Securities and Exchange Commission acknowledged submissions from several firms including VanEck and WisdomTree, with those proposals appearing Wednesday on the Federal Register.
"This is maybe a step closer, but very difficult to handicap what's going to come out of a regulator," Tilly said.
Last week, the bitcoin community gained a partial victory after a judge in the Southern District of New York ruled that Ripple's $XRP (XRP.CC)$
could be considered a security in some cases. The court ruling marked the SEC's first loss in enforcing its crypto regulations
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STD0313 : I am not a huge crypto trader, if you could, would you explain why XRP could be considered an equity? How does fall under any of the laws that define an equity......