Over the past several years, many entities have submitted proposals for regulated (BTC) exchange-traded funds, or ETFs in the United States. So far, the Securities and Exchange Commission, or SEC, has not approved any official Bitcoin ETF product for the mainstream public.
As crypto gains increased trust in the public eye, entities look for opportunities to bring digital assets into the traditional financial world as part of a more formal and regulated approach. As its first major step into crypto, the Chicago Board Options Exchange, or CBOE, and the Chicago Mercantile Exchange, or CME, launched cash-backed Bitcoin futures trading in 2017.
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Source: Cryptocurrency - investing.com
