Tag: Cboe

Chicago Board Options Exchange Files Trademark for NFT & Crypto Services

by Blockchain News

The Chicago Board Options Exchange (CBOE Exchange, Inc. (CBOE)) has filed for a trademark application for CBOE DIGITAL for a non-fungible token (NFT) trademark, attorney Michael Kondoudis announced through a tweet.

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“The Chicago Board Options Exchange has filed a trademark application for CBOE DIGITAL indicating plans for Exchanges and trading platforms for NFT backed digital assets; Marketplaces and exchanges for crypto + non-fungible + digital assets,” Kondudis, a Washington DC-based trademark lawyer, tweeted.

The application was submitted to the U.S. Patent and Trademark Office on April 14, 2022.

It also signals plans by the CBOE Exchange to expand to various virtual, crypto and financial goods and services such as the provision of a financial exchange for the trading of digital assets authenticated by NFTs; financial exchange services; operation of electronic exchange for buyers and sellers of NFTs and online non-downloadable software for users to create, exchange, sell, purchase, and transmit non-fungible assets, digital assets, and crypto collectables authenticated by NFTs.

According to Kondoudis, “the CBOE is the largest options exchange in the U.S. This filing is the next logical step to protect the CBOE brand as it moves further into the digital economy of the Metaverse.”

“The CBOE is clearing taking a proactive, forward-thinking approach to ensure that it is a leading financial exchange in the digital economy of the Metaverse,” he added. “It is a safe bet that the CBOE expects to be a major player in that virtual economy.”

Kondoudis tracks Metaverse and NFT trademark filings at the U.S. Patent and Trademark Office. However, Kondoudis does not represent the CBOE.

Earlier this year, the New York Stock Exchange filed a similar trademark application, according to Kondoudis, trademark applications by the CBOE have become a trend of filings in the financial sector for NFT and blockchain asset trading.

“We expect the number of trademark filings for NFT and blockchain products and services from the financial services sector to continue over the next 12 months as brands come to appreciate the opportunities of the digital economies,” Kondoudis added.

Image source: Shutterstock

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VanEck Bitcoin futures ETF to launch on CBOE on Nov. 16

by Cointelegraph

VanEck, one of the first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is finally launching its Bitcoin futures ETF.

According to an official notice by the Chicago Board Options Exchange (CBOE), VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF on Nov. 16.

VanEck’s new ETF is joining the growing number of BTC futures-based ETFs launched in the United States, including ProShares’ Bitcoin Strategy ETF, which became the first Bitcoin futures ETF to start trading on the New York Stock Exchange on Oct. 19. Valkyrie’s Bitcoin Strategy ETF started trading on Nasdaq under the BTF ticker in late October.

CBOE’s listing of XBTF comes just a couple of days after the United States Securities and Exchange Commission (SEC) officially rejected VanEck’s spot Bitcoin ETF application. The SEC argued that the proposed rule change to list the ETF did not meet standards to  “prevent fraudulent and manipulative acts and practices” or “protect investors and the public interest.”

Launched back in 1955, VanEck is a U.S. asset manager specializing in thematic and gold-based ETFs and Mutual Funds. VanEck is known in the crypto community as one of the first U.S. firms to ever file for a Bitcoin futures ETF. The firm has submitted multiple BTC ETF filings with the SEC since then but has only managed to get its futures ETF approved to date.

VanEck did not immediately respond to Cointelegraph’s request for comment.

Related: ProShares Bitcoin futures fund in top 2% of all ETFs for volume

As previously reported by Cointelegraph, SEC chair Gary Gensler previously hinted that the SEC would be more open to accepting ETFs based on cryptocurrency futures rather than through direct exposure.

However, some companies like Bitwise Asset Management remain bullish on a potential pure Bitcoin ETF, with the firm even deciding to drop its futures ETF filing last week. “Ultimately, what many investors want is a spot Bitcoin ETF. We think that’s possible. So Bitwise will continue to pursue that goal, and we will look for other ways to help investors get access to the incredible opportunities in crypto,” Bitwise chief investment officer Matt Hougan said.