After repeated attempts to convince the SEC to approve a bitcoin ETF, the Cboe is back once again with another Bitcoin ETF application. Earlier this year, the SEC asked the bitcoin fund sponsors to withdraw all applications because of fears of fragmentation and extreme volatility.  But the Cboe just won’t quit. The Cboe is again filling to list the Van Eck SolidX Bitcoin Trust which has already been rejected twice by the SEC. This application looks fairly similar to their previous ones so we’re not sure why the Cboe thinks the SEC will have a change of heart.  Maybe SEC Chairman Clayton’s recent remark (more…)

  It really is sad to watch the once venerable New York Stock Exchange continue to stoop to new lows in order to protect their fragmented and conflicted business model.  Earlier this week, NYSE President Stacey Cunningham was on Fox Business complaining about how unfair the transaction fee pilot was for the NYSE. She claimed the pilot would hurt investors and issuers since they would be “ending up in a worse price”. However, she did concede that the complexity of the market “hurts investor confidence” but complained the SEC was only focusing on the lit market and not the off-exchange markets. In (more…)