The CEO, president and chairman of the Chicago Board Options Exchange (CBOE), Ed Tilly asserts that in order to invite Wall Street institutional investors, the cryptocurrency ecosystem needs Bitcoin (BTC) exchange-traded notes (ETNs)
As Reported by the financial newspaper Business Insider on Jan.18, Tilly declared:
“The power of having that future there is also having an ETN that is more attractive to retail, and then institutions can lay that risk off on the listed futures market. […] Absent that leg and introducing trackers or notes, I think we will be in this, ‘It trades every day, but it is not the story.’”
Delay in Approvals
Addressing the issue of the delay in Bitcoin exchange-traded products approvals of by the SEC, Tilly thinks it because the regulator feels that they cannot protect investors from manipulation on a market they cannot control.
Read more: US Congressmen Proposes Bill To Exempt Crypto from Securities Laws