Traders Magazine
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Kapil Rathi, co-founder and chief executive of CrossTower, said the investment and trading firm is providing traditional Wall Street infrastructure to allow institutions to trade cryptocurrencies, which he expects to become regulated.
Rathi told Markets Media: “Five years down the line when crypto assets are regulated we will be ready, which is a differentiator.”
He has experience of building exchanges in a regulated environment having previously held senior leadership roles at NYSE, Bats, ISE and Cboe. Rathi managed four equity options exchanges at Cboe, launched a new options exchange at Bats, and built multiple innovative trading products at ISE.
Traders Magazine
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Cboe Global Markets has submitted a filing to the US Securities and Exchange Commission on behalf of Fidelity Investments, seeking approval to list and trade their bitcoin ETF – Wise Origin Bitcoin Trust.
A copy of the filing is available here.
In March the exchange filed with the SEC to potentially list and trade shares of the VanEck Bitcoin Trust, which could be the first US bitcoin ETF.
The Fidelity filing said Cboe first applied the the SEC to list an exchange-traded product to provide exposure to bitcoin in the U.S. on June 30, 2016.
“At that time, blockchain technology, and digital assets that utilized it, were relatively new to the broader public,” said Cboe. “The market cap of all bitcoin in existence at that time was approximately $10bn.”