Media: SEC interested in approval of Bitcoin-ETF from CBOE

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On August 10th, a meeting of the SEC will take place, at which officials will determine the fate of VanEck SolidX Bitcoin Trust.

The subject of the meeting will be approving or refusing to change the rules of trade at the Chicago Board Options Exchange (CBOE).

CBOE also intends to create a bitcoin-ETF, which will trade in shares of SolidX, the estimated price of which will be 25 BTC a piece.

A source in the SEC, who asked to remain anonymous, stressed that the agency is interested in approving the application from the CBOE.

“The decision on Bitcoin-ETF for Winklevoss application was expected and it was easy to predict. Nevertheless, all this is a matter of time, not an opportunity. The question is whether this will happen in the last quarter of 2018 or in the first quarter of 2019, and this will open the door to exchange products based on cryptocurrency, ” the source said.

The unnamed CBOE representative also believes that the close relationship between the exchange and the regulators will have a beneficial effect on the outcome of the meeting.

“We remain convinced that the approval of our bitcoin-ETF is almost an issue. Only the terms and possible administrative hiccups remain, ” he said.

Previously, VanEck and SolidX filed a joint application for the creation of VanEck SolidX Bitcoin Trust, which will be immune from theft and loss of access to funds.

It will also be tied to a new index from VanEck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms.

Many representatives of the community are convinced that the launch of the first bitcoin-ETF will not take place before the spring of 2019.