Cboe Global Markets Inc. is seeking to list a Fidelity Bitcoin exchange-traded fund in the U.S. despite the prospect of an icy regulatory reception.
In a filing with the Securities and Exchange Commission Monday, Cboe proposed listing Fidelity’s Wise Origin Bitcoin Trust, saying concerns about potential manipulation of a Bitcoin exchange-traded product have been “sufficiently mitigated.”
New SEC Chairman Gary Gensler told Congress last week that the cryptocurrency market “could benefit from greater investor protection.”
The comments appeared to be a setback for the idea that Gensler might be more sympathetic to crypto product approvals given his familiarity with financial technology.
Cboe has already petitioned for the approval of vehicles such as a VanEck Bitcoin fund, one of a number of Bitcoin ETFs seeking the green light from officials. The SEC has knocked back repeated attempts to list such products in the U.S.
Crypto proponents argue that the sector is evolving and that other jurisdictions like Canada allow Bitcoin ETFs, leaving U.S. investors at a disadvantage.
RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
