SEC Delays Action On Cboe Proposal To List Bitcoin ETF

Law360 (August 8, 2018, 5:37 PM EDT) -- The U.S. Securities and Exchange Commission on Tuesday delayed a decision on whether to approve a closely watched proposal by Cboe BZX Exchange Inc. to list what would be the first bitcoin-based exchange-traded fund, saying it needs more time to consider the proposal.

Cboe BZX is seeking a rule change that would allow it to trade SolidX Bitcoin Shares, an ETF backed by bitcoin that would be run by asset manager VanEck Securities Corp. and financial technology startup SolidX Management LLC. The SEC has yet to approve a bitcoin ETF, having previously expressed concerns that such products could be vulnerable to...

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