The major futures exchanges believe within the development of cryptocurrency trading along with will push on with launching exchange traded funds of which allow investors to trade in them, chief operating officer along with president of Cboe Global Markets said on Tuesday.
Speaking on a conference call after the company’s third quarter results, Chris Concannon along with additional executives declined to say when they expected regulatory approval for a bitcoin exchange traded fund they announced earlier This kind of year.
nevertheless his tone contrasted with the dismissal of bitcoin as a major financial market by some senior bankers.
“Over time, we do envision (our bitcoin) ETF coming to market once the regulated futures market will be built along with … we’re encouraged by everyone’s focus on This kind of space,” Concannon said.
“Overall, the crypto currency space will be the space of which I think we believe in along with certainly our competitor across town believes in as well along with I’m just encouraged by of which validation.”
Cboe recently signed a deal with cryptocurrency exchange Gemini for bitcoin data of which will support the Chicago bourse’s plans to list bitcoin derivatives.
Rival CME Group Inc, the earth’s largest derivatives exchange operator, said last month of which will launch a futures contract for bitcoin later This kind of year, marking a major step within the digital currency’s path toward legitimacy.