US derivatives platform, Cboe Global Markets is considering to re-list Bitcoin futures almost two years after the exchange dropped the digital currency investment instrument, CEO Ed Tilly revealed in an interview with Bloomberg.
“We’re still interested in the space, we haven’t given up on it,” Tilly said. “We’re keen on building out the entire platform. There’s a lot of demand from retail and institutions, and we need to be there.”
Cboe was the first regulated US derivatives exchange to list Bitcoin futures in December 2017, after which the digital asset touched the iconic $20,000 mark, the record Bitcoin broke last December.
Despite the hype around the Bitcoin derivatives, demand for Cboe’s product remained dull which pushed the exchange to stop offering Bitcoin derivatives in June 2019. However, its rival CME Group was seeing massive demand for Bitcoin derivatives.
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Tally’s comments came when institutional demand for Bitcoin is skyrocketing, and the exchange could gain a lot from re-listing Bitcoin futures.
Pushing for Bitcoin ETF
Cboe was not only limited with the Bitcoin futures for its crypto exposure as the company pushed for approval, for the much-anticipated Bitcoin exchange-traded fund (ETF), multiple times but failed. VanEck Bitcoin Trust again filed for the Securities and Exchange Commission’s approval to list a Bitcoin ETF on the Cboe bZx Exchange.
“We’re very keen to move along approval for the VanEck ETF,” Tilly added.
Though the US financial markets regulator is reluctant to approve a Bitcoin ETF, many companies are now trying to list the product in the US market. Finance Magnates today reported that financial giant, Fidelity is now planning to launch a Bitcoin ETF.