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Bitcoin News Wednesday, March 28 Bitcoin futures, Cboe, Exchange operator cboe & more…

Bitcoin News TLDR / Table of Contents

  • Cboe encourages SEC to allow bitcoin ETFs
    • Cboe Global Markets, the first to launch bitcoin futures, would like the Securities and Exchange Commission to allow cryptocurrency exchange-traded funds.
    • bitcoin futures, Cboe, Cboe Global Markets, tracking bitcoin futures,
  • Cboe Urges U.S. Regulators to Move Forward With Bitcoin ETFs
    • U.S. securities regulators should not stand in the way of exchange-traded funds that hold cryptocurrencies like bitcoin from coming to the market as they are essentially the same as other ETFs that hold commodities, said exchange operator Cboe Global Markets.
    • exchange operator Cboe, Cboe President Chris, spot market, ,
  • The rise and fall of bitcoin
    • THE great Sir Isaac Newton may have revolutionised our knowledge of the world but he still had his blind spots. He was sucked into the great mania of his day, the South Sea Bubble (pictured) and lost a lot of money. “I can calculate the motion of heavenly bodies but…
    • Incapsula incident ID, ,
  • Cboe Global Markets, the first to launch bitcoin futures, would like the Securities and Exchange Commission to allow cryptocurrency exchange-traded funds.
  • Cboe encourages the Commission to approach Cryptocurrency ETPs [exchange-traded products] holistically and from the same perspective that it has historically approached commodity-related ETPs, the derivatives exchange said Friday in a letter to the SEC, published online Monday.
  • The Commission should not stand in the way of such ETPs coming to market given Cboe’s arguments for addressing the SEC’s concerns, the letter said.
  • He said Cboe expects trading volumes in bitcoin futures markets to soon reach levels comparable to those of other commodity futures products at the time that they were included in ETPs.
  • Cboe became the first major exchange to launch bitcoin futures on Dec. 10 and applied later that month with the SEC to list six bitcoin-related exchange-traded funds.

Tags: bitcoin futures, Cboe, Cboe Global Markets, tracking bitcoin futures,

  • NEW YORK U.S. securities regulators should not stand in the way of exchange-traded funds that hold cryptocurrencies like bitcoin from coming to the market as they are essentially the same as other ETFs that hold commodities, said exchange operator Cboe Global Markets.
  • The U.S. Securities and Exchange Commission said in January that significant investor protection issues needed to be examined before bitcoin-based ETFs could be offered and it also had concerns around how the products would be priced, stored and safeguarded.
  • Cboe’s letter said the exchange believes that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation.
  • The March 23 letter was signed by Cboe President Chris Concannon.
  • Cboe believes ETFs would give investors a more transparent and accessible way to get exposure to cryptocurrencies than the spot market.

Tags: exchange operator Cboe, Cboe President Chris, spot market, ,

  • Perhaps the best way of understanding bitcoin is through a model of how bubbles operate.
  • The classic model, developed by Hyman Minsky and elaborated by Charles Kindleberger, a historian who studied bubbles, has five stages: displacement, boom, euphoria, financial distress and revulsion.
  • A boom then occurs and drags in more and more investors; at some stage, we reach euphoria, where the boom is widely known to the public and there is talk about those who made millions from the trade.
  • In the euphoria stage, people buy because others are buying and because they anticipate being able to sell quickly at a higher price.
  • Investors may well reflect that bitcoin had not become a means of exchange for day-to-day transactions, has not proved to be a reliable store of value and thanks to the proliferation of cryptocurrencies, does not really benefit from a limited supply.

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