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.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
