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.
FINRA's proposed rule filing would create a new 10-day fraud delay and nearly triple the maximum hold period for exploited senior investors
Fueled by a recent shot in the arm from private equity firm Carlyle, MAI adds a $490 million Atlanta RIA as it keeps building out its national footprint.
“Todd Burkhalter organized what is likely the largest Ponzi scheme in Georgia history,” said one FBI official.
With experience from Goldman Sachs and TD Ameritrade, the RIA's newest SVP hire adds to a recent wave of executive departures from hybrid Osaic.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
