Nearly four after futures Wall Street, trading giant Global is still working to allay U.S. Securities and Exchange Commission () over Bitcoin Exchange Traded Funds ().
Cboe Global and CME Group were approved by the SEC to offer Bitcoin-based futures last year, and Wall Street cryptocurrency trading began in December 2017.
The natural next step for cryptocurrencies to integrate into global traditional markets is ETF trading. Cboe is one of a number of companies with bitcoin-linked ETFs waiting for approval from the SEC.

Significant Investor Protection Issues Need to Be Examined
The SEC is proving reluctant to grant ETF approvals. In a staff letter dated January 18th, 2018, it said:
We believe that there are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to retail investors.
Though it recognized a “range of potential benefits” expressed by cryptocurrency proponents, the SEC outlined its concerns:
We are also aware that critics of cryptocurrencies have raised various concerns regarding of information, trading, valuation and other matters related to the nature of the underlying assets. In addition, the innovative nature of cryptocurrencies and related products, as well …

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