Chris Concannon, the president and CEO of Chicago Board Options Exchange (CBOE), is confident that the Securities and Exchange Commission (SEC) will make a positive decision about launching a new financial instrument.
The office doubts the liquidity of the new product, which has not yet been tested. The SEC needs more time to decide whether the market is ready to accept Bitcoin-ETF.
However, according to Chris Concannon, the launch of the new financial instrument will have a positive impact on the digital money industry and will help to ensure capital inflow. In the application for Bitcoin-ETF from CBOE it is written that the work with cryptocurrency will occur only in the interests of market participants with full insurance of their funds. Therefore, the CBOE head does not doubt that the commission will make a positive decision.
WHY IS IT IMPORTANT?
- After SEC has extended the decision-making period for the application to launch Bitcoin-ETF, filed jointly by New York companies VanEck and SolidX, the market reacted with a sharp drop to the minimum levels of 2018.
- Representatives of the CBOE believe that the market reacted irrationally, since the consideration of each such application is always prolonged. They are 99% sure that bitcoin-ETF will be approved.