Bitcoin Going Mainstream: NYSE Seeks Approval for Two ETFs

The move means Bitcoin may get even more recognition after it recently went mainstream with the launch of Bitcoin futures trading by CME Group and CBOE. An NYSE-listed ETF tracking the cryptocurrency will promote wider adoption and temper skepticism about it.

As custodians, Brown Brothers Harriman will prepare the regulatory filings and documentation and subsequently monitor the investment assets and cash equivalents.

Win Thin, who oversees the bank’s emerging markets strategy, told CNBC:

“It's very hard for us, as currency analysts, to follow this. It represents further mainstreaming. Hopefully that what comes out of this: some more regulatory oversight.” “Beyond that, we don't have any calls on where it will go from here,” he added.

However, the SEC does not seem all that enthusiastic about these filings. Former commissioner Dan Gallagher told Bloomberg:

“Truth be told, the substance of some of the concerns that the SEC had will remain. I don’t expect this to be an area in which the SEC moves precipitously just because you have some futures trading.”

We’ll have to wait and what impact NYSE’s move will have.