Omniex Comment Letter to SEC: Bitwise Bitcoin ETF

We submitted a comment letter supporting a proposal by NYSE Arca, Inc. to list and trade shares of the Bitwise Bitcoin ETF Trust. Establishment of the Trust would, in our view, allow institutions to join retail investors in the bitcoin market and provide all investors with an alternative means to diversify their portfolios with exposure to bitcoin via an exchange-listed product. Read More »

Omniex comment letter to CFTC

We responded to the Commodity Futures Trading Commission’s request for information about crypto-asset mechanics and markets, specifically including Ether and the Ethereum network. Omniex noted the CFTC already possesses adequate tools to oversee and monitor trading in derivative contracts on Ether and the underlying Ether cash markets, as evidenced by the agency’s current oversight of trading in Bitcoin futures listed by CME and Cboe and its related monitoring of Bitcoin spot markets. There would be little, if any, functional difference in the CFTC’s oversight of derivatives contracts for Bitcoin and Ether or its monitoring of underlying spot markets for those assets. Read More »

Sheila Bair, Omniex Advisor, Coindesk article Romper Room to White Linen: Saying Goodbye to Crypto’s Infant Anarchy

Omniex Advisor Sheila Bair argued in favor of SEC approval of a Bitcoin ETP, positing that it would increase institutional participation by allowing them to establish crypto exposure through a product regulated on a national securities exchange. This development would also indirectly raise standards in the retail-dominated crypto spot markets. Read More »

Omniex comment letter to SEC re Bitcoin ETP Proposal

We urged the Securities and Exchange Commission to approve the Proposal for a Bitcoin ETP as it would open an alternative avenue for institutions to diversify their portfolios to gain exposure to bitcoin. Doing so would provide institutions with a familiar, easily accessible, and secure financial product listed and traded on a national securities exchange and subject to meaningful regulation and disclosure applicable to listed ETPs. Approval would also allow institutional investors to remain patient as the underlying crypto-asset ecosystem iterates and continues to evolve and mature into a healthier more mature market that is better fulfill institutions’ more rigorous trading demands. Read More »

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