Fidelity's Wise Origin Bitcoin Fund may soon be listed on the CBOE exchange, pending SEC approval. The SEC has until January 10 to decide on this and other Bitcoin ETF applications. A Bitcoin ETF would allow traditional investors to invest in Bitcoin without directly buying or storing the cryptocurrency. Despite the potential for market manipulation concerns, the entry of traditional finance giants like Fidelity could influence the SEC's decision. Currently, the market is responding positively to the possibility of an ETF approval, with Bitcoin's price showing a slight recovery after a recent drop.
Cboe and S&P have collaborated to launch "credit Vix" indices in response to rising interest rates putting pressure on corporate entities. These indices aim to provide investors with a measure of market volatility in the credit space, similar to the Vix index for equities.
The chief executive officer of Cboe Global Markets, Edward Tilly, has resigned after failing to disclose personal relationships with colleagues. The undisclosed relationships violated the company's code of conduct, leading to Tilly's departure from the role.
Cboe Global Markets has amended five Bitcoin ETF applications to include a surveillance-sharing agreement (SSA) with Coinbase, in compliance with the SEC's recommendations to prevent fraud and protect investors. The filings by Cboe, Invesco, VanEck, WisdomTree, Fidelity, ARK Invest, and 21Shares follow the recent trend of asset management firms seeking SEC approval for Bitcoin ETFs. The involvement of Coinbase in these applications has boosted its share price, despite the ongoing lawsuit with the SEC over alleged unregistered securities.
Coinbase's shares surged by up to 16% after the crypto exchange reached a surveillance-sharing agreement with Cboe's BZX Exchange for five of its spot bitcoin exchange-traded fund (ETF) applications. The agreement, settled on June 21, aims to prevent market manipulation and is a requirement for recent ETF applications. Nasdaq, the securities exchange behind BlackRock's bitcoin ETF application, also reached a similar agreement with Coinbase.
Coinbase, the largest U.S. cryptocurrency platform, saw its shares surge 13% after exchange operator Cboe named it in its application to launch a spot bitcoin exchange-traded fund (ETF). Cboe refilled its application with the U.S. Securities and Exchange Commission (SEC) and named Coinbase as the platform that would help detect fraud in the underlying bitcoin markets. The SEC has previously rejected spot bitcoin ETF applications, citing concerns about fraudulent and manipulative practices. Coinbase shares closed up 11.7% and have more than doubled this year.
Shares of Coinbase and Microstrategy surged after Cboe's BZX Exchange refiled its applications for spot bitcoin exchange-traded funds (ETFs), naming Coinbase as the firm for surveillance-sharing agreements. The move is seen as increasing the chances of a spot bitcoin ETF being approved by the SEC, which could simplify adoption by traditional investors.
Coinbase has been named as the surveillance-sharing partner for several spot bitcoin exchange-traded fund (ETF) applications, including those filed by Fidelity, WisdomTree, VanEck, ARK Invest, Galaxy/Invesco, and BlackRock. The U.S. Securities and Exchange Commission (SEC) had previously rejected bitcoin ETF applications due to the lack of surveillance-sharing agreements with markets of "significant size." Cboe's BZX Exchange, which is working with these ETF issuers, refiled the applications and named Coinbase as its partner. However, the SEC's recent lawsuit against Coinbase for alleged unregistered securities operations may complicate the approval process. The SEC has yet to formally acknowledge the applications and will have an initial 45-day review period, extendable to 240 days.
Exchange group Cboe is set to launch a new version of the Vix, the volatility index known as "Wall Street's fear gauge," that will track expectations of short-term market swings. The 1-day Volatility Index, or Vix1d, will measure expected volatility in the S&P 500 over the next day of trading, rather than over the next month like the Vix. The move is a response to a recent transformation in derivatives markets that had sparked concerns about the effectiveness and relevance of the original Vix.
The Cboe is set to launch a new index, the Cboe 1-day Volatility Index, which will track implied volatility using option contracts with less than one day left until expiration. The index will be disseminated beginning Monday and will provide investors with a new gauge to measure expected stock-market volatility.
Cboe is set to launch a one-day version of the VIX Index on Monday, as concerns have grown over the effectiveness of the VIX in the zero-day options era. The VIX, a measure of expected swings in the S&P 500 Index, has not reached levels seen multiple times just a year ago, even during recent market volatility.
