CBOE wants to meet high demand for crypto

27. März 2021

CBOE wants to meet high demand for crypto

Ed Tilly, CEO of Cboe Global Markets, says the Chicago Board of Exchanges has „not given up“ despite previous setbacks.

Chicago exchange CBOE, which offered regulated Crypto Investor in the United States years ago, plans to launch more futures products in the crypto sector in the future.

In a new interview with BNN Bloomberg on 25 March, CEO Ed Tilly said the company’s not always straightforward path in this regard so far has not dampened its commitment at all.

The CBOE took the product off the market

It was the first North American exchange to offer bitcoin (BTC) futures in December 2017. The CBOE took the product off the market again in 2019 in the face of stiff competition from popular BTC futures on the Chicago Mercantile Exchange. Tilly further explained:

„We’re still interested in this space, we haven’t abandoned it. We want to grow the whole platform. There’s a lot of demand from retail traders and institutions and we need to be there.“

Another source of frustration is the fact that US regulators have yet to give the green light to an exchange-traded bitcoin fund. The CBOE has already made unsuccessful attempts to list one. After a recently withdrawn application, the CBOE’s BZX exchange is now awaiting the first decision from the US securities regulator, the SEC, on its latest application in March. It had applied to list a bitcoin ETF from VanEck. Tilly told reporters the company was „very interested in getting approval“ for and working with the VanEck product.

VanEck, meanwhile, is at loggerheads with former partner SolidX over its bitcoin ETF application. The latter has filed a lawsuit accusing VanEck of plagiarising a previous ETF application in January this year.