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Cboe Files With the US SEC Again to List VanEck’s Bitcoin ETF

Cboe Files With the US SEC Again to List VanEck's Bitcoin ETF


Yet another attempt for a US-approved Bitcoin ETF is on the horizon coming from the Chicago Board Options Exchange (Cboe). The organization’s filing with the SEC aims to build on a previous S-1 filing initiated by VanEck. 

  • CryptoPotato reported in late 2020 that the US investment giant with about $50 billion in AUM, VanEck, has filed for its latest S-1 form with the SEC to establish a Bitcoin ETF called The VanEck Bitcoin Trust.  
  • The company’s application indicated that the ETF’s shares would be traded on the Cboe BZX Exchange if approved. 
  • Although the Commission has not issued a formal response yet, Cboe has interfered with the application by filing a proposal of its own. 
  • It works as an addition to the previous attempt as the proposal “builds on VanEck’s earlier S-1 filing” and “represents the next steps in bringing what could be the first US Bitcoin ETF to market.” 
  • Furthermore, the filing reads that such a product would “present certain advantages for retail investors compared to buying spot bitcoin directly. The most notable advantage is the use of the Custodian to custody the Trust’s bitcoin assets.” However, the document didn’t reveal the name of the custodian.
  • The regulator has yet to approve a Bitcoin ETF in the US as it has rejected dozens of applications so far. VanEck alone has a couple of attempts in the past, but each ended with a withdrawal from the company. 
  • While the US has failed to approve a product tracking the performance of the primary cryptocurrency, the nation’s northern neighbor did so earlier this year. 
  • Canada’s Ontario Securities Commission (OSC) approved a filing by Purpose Investments in February, and the product accumulated more than $400 million in its first few weeks of existence.  
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