Cboe files to list 6 bitcoin ETFs after being first major exchange to trade cryptocurrency futures
- Cboe Global Markets filed to list six bitcoin ETFs within the past week.
- The funds will invest primarily in bitcoin futures.
- Cboe started listing bitcoin futures two weeks ago.
Cboe Global Markets has applied with the SEC to list six bitcoin-related exchange-traded funds as the company bets further on the emerging new asset class.
Earlier this month, Cboe jumped ahead of rival exchange CME Group to launch bitcoin futures first.
Here are the six funds:
- First Trust Bitcoin Strategy ETF
- First Trust Inverse Bitcoin Strategy ETF
- REX Bitcoin Strategy ETF
- REX Short Bitcoin Strategy ETF
- GraniteShares Bitcoin ETF
- GraniteShares Short Bitcoin ETF
The exchange-traded funds would allow traders to bet on how the volatile cryptocurrency futures contracts will perform. Cboe filed to list all six funds with the SEC within the past week.
Bitcoin itself has had a rough end to the week. The digital currency briefly sank below $11,000 Friday, down 44 percent from a record high at the start of the week.
"Given the success of the launch of our bitcoin futures, several partners are very interested in moving forward with the development of an exchange-traded product," a Cboe spokesperson told CNBC.
According to the First Trust filing, the fund "intends to invest primarily in Bitcoin Futures Contracts, [though] it may also invest in other Listed Bitcoin Derivatives, OTC Bitcoin Derivatives, U.S. exchange-listed ETPs, and Non-U.S. Component Stocks (collectively, 'Bitcoin Instruments')."
REX ETFs will place a majority of its assets in bitcoin derivatives and cash, but may also invest in U.S. exchange-listed ETPs. The GraniteShares ETFs would follow suit.
The filings by Cboe Global Markets come on the heels of a filing by the NYSE to list two bitcoin ETFs as exchanges compete to get ahead in the cryptocurrency space.
— CNBC's Evelyn Cheng contributed to this report.