Cboe Global Markets, Inc., an exchange holding company, urged the US Securities and Exchange Commission or SEC not to stand in the way of Bitcoin exchange-traded-fund or ETFS coming to market, noting that they are similar to other commodity-based ETFs.
In an open letter, Chris Concannon, President and COO of the Cboe, said, "Cboe encourages the Commission to approach Cryptocurrency ETPs holistically and from the same perspective that it has historically approached commodity-related ETPs."
According to Cboe, an ETP would provide a more transparent and easily accessible vehicle for gaining exposure to cryptocurrencies than the spot market.
The letter, addressed to Dalia Blass, Director of SEC Division of Investment Management, was in response to SEC's earlier statement regarding the potential concerns associated with cryptocurrency-related holdings in funds.
Concannon noted that the Cboe shares many of the concerns raised in the Staff Letter, but it believes that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation.
He further said, "As the volumes continue to grow, especially on regulated US markets, the overall spot Bitcoin market looks more and more like a traditional commodity market and CBOE continues to believe that the spot market is sufficiently liquid to support a Bitcoin ETP."
In an early March Congressional hearing, experts had suggested that existing legislation is sufficient to regulate certain aspects of cryptocurrencies.
The US regulator has been taking strict stand against cryptocurrencies for long and has issued subpoenas to many companies in its efforts to establish better control over such trading platforms and exchanges.
Cboe noted that it was the first national securities exchange to submit a proposal to list and trade an ETP that would hold bitcoin and has since submitted three additional proposals to list and trade ETPs that would hold bitcoin futures.
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December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.