A bitcoin exchange traded fund is looking much more likely, given latest political activities, as noted Bloomberg’s Eric Balchunas in a lately televised Bloomberg technology interview. The Securities and Exchange Commission in advance this year rejected the primary proposed bitcoin exchange traded fund from the Winklevoss twins. Eric Balchunas points to latest activities that make a bitcoin exchange traded fund more likely.
The Chicago Board options exchange has introduced that it’ll list bitcoin futures and create a futures marketplace, stated Eric Balchunas. In early August, pending review from the United States Commodities Futures Trading Commission, the Chicago Board options exchange plans to provide cash-settled bitcoin futures within the fourth region of this year or early 2018.
Eric Balchunas stated:
“This will assist bring extra liquidity into the marketplace. That’s a huge deal. I assume it’ll assist with the Securities and exchange commission. The second aspect is the Securities and Exchange Commission itself. The new front-runner for the division of funding management is an attorney from the regulation company that represented the Winklevoss twins in their bid for their bitcoin exchange traded fund. I’m not telling they’ll make a decision based on that, but it mayn’t hurt.”
Eric Balchunas additionally noted:
“When you approve an exchange traded fund for something, you’re basically making it ready for prime time, as everybody with an e-trade account can now purchase it. It’s less complicated than going out and signing up for a bitcoin account on one of the exchanges.”
It’s suitable for bitcoin as it’s going to open up an international of new traders, Eric Balchunas mentioned, comparing it to what the GLD exchange traded fund did with gold, that’s now a $frty billion dollar exchange traded fund. The Winklevoss bitcoin exchange traded fund was modeled on GLD.
Eric Balchunas noted:
“It’s going to store bitcoin much like GLD stores gold and make it less difficult for traders to get access to it.”
The Commodities Futures trading commission in July granted LedgerX, LLC registration as a digital currency derivatives clearing company below the Commodity exchange Act. LedgerX is allowed to offer clearing services for completely collateralized digital currency swaps. LedgerX was accredited as a swap execution facility on July 6, making it the first federally regulated swap execution facility allowed to provide clearing services and a buying and selling facility for options based on digital currency for the institutional marketplace.
The Securities and exchange fee finding in July that DAO tokens are a protection, and issue to federal securities laws was welcomed by cryptocurrency business observers as an indication the organization is developing laws to apply to cryptocurrencies. The finding was a part of a Securities and Exchange Commission report on its research into the DAO initial Coin offering.