Ed Tilly, Chairman, Chairman of the Board of Directors and President of the Chicago Stock Exchange of Options (CBOE), expressed the view that the emergence of tradable exchange notes (ETN) on Bitcoin may attract institutional investors from Wall Street to the cryptocurrency industry.
"The growth of Bitcoin in the stock markets is still hampered by the lack of a trading product focused on large investors ," said Tilly.
He also stressed that Bitcoin futures are not growing, as there are no stock notes and other products associated with the first cryptocurrency.
CBOE President said that for institutional investors it is important to have both futures and stock notes on Bitcoin. At the same time, stock exchange notes are more accessible to average investors when compared to futures.
“For future development, it is important that stock notes are more attractive to retailers and their appearance can be a factor that will force companies to accept this risk ,” said Tilley.
In his opinion, regulators do not approve of exchange products associated with Bitcoin, such as ETF, because they cannot protect investors from manipulating the price of an asset in the market. If they have the ability to control such products, then regulators will approve them.
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