CBOE CEO: Crypto Space Need Bitcoin ETNs To Boom

In a recent media luncheon, Edward Tilly, the chief executive at the financial powerhouse that is the Chicago Board Options Exchange, the largest American options exchange, made a surprising mention of Bitcoin and the broader cryptocurrency market.

Speaking to reporters, including those from Business Insider, Tilly, who formerly worked as a market maker for the heavyweight he now heads, noted that Bitcoin volume via CBOE’s vehicles hasn’t seen substantial growth due to a lack of a certain instrument. This financial instrument is an exchange-traded note (ETN), which are often debt-secured, rather than physically-backed, are products that allow mainly retail investors to gain exposure to certain often more-coveted, hard-to-access assets.

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