CBOE: Institutions Will Invest in BTC Following Bitcoin ETF Approvals

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According to John Palmer, president of CBOE Digital, a spot Bitcoin exchange-traded fund approval will draw in a fresh wave of institutional investors.

During an interview on January 2 on Bloomberg TV, Palmer stated that the approval of a spot ETF will not only bring in institutional investors, but also retail investors interested in Bitcoin derivatives.

Palmer also stated that the potential approval of a spot ETF would open up opportunities for pension funds and RIA-based funds to invest in Bitcoin, as many of these funds are currently unable to directly invest in the cryptocurrency.

In the financial industry, an RIA is a registered company that provides investment advice and is regulated by federal or state agencies. Palmer’s comments come just one week before the Securities and Exchange Commission’s (SEC) deadline of January 10, where they will have to make a decision on the ARK Invest 21 Shares Bitcoin ETF application.

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