Cboe Says Robinhood And Virtu Among Potential Equity Partners In Crypto Exchange
Cboe Global Markets Inc on Thursday said it is in discussions with several market participants, including retail brokers and market makers, about taking strategic stakes in its recently acquired digital asset exchange, ErisX, which will be renamed Cboe Digital.
Cboe said the potential equity partners include Robinhood Markets Inc, Interactive Brokers, Virtu Financial, Jane Street, Jump Crypto, Optiver, DRW, and tastytrade, which is owned by IG Group.
Chicago-based Cboe said the "soon to be formalized" equity partners will join planned commercial partner firms in supporting ErisX, including Fidelity Digital Assets, Galaxy Digital, NYDIG and Webull.
"ErisX was founded with the mission of bringing transparent, well-regulated markets for digital assets and we are excited to further accelerate on this vision with growing support from our partner firms," said Cboe Chief Executive Officer Ed Tilly.
Cboe closed the acquisition of U.S.-based digital asset spot market operator Eris Digital Holdings (ErisX) in May, which also included a regulated futures exchange and a regulated clearinghouse, as the cornerstone of its new Cboe Digital business.
Last month, Cboe said it took a $460 million writedown on its ErisX purchase due to the plunge in the price of cryptocurrencies.
Cboe announced its intention to acquire ErisX on Oct. 20, when the price of bitcoin topped $67,000. Since then, digital asset prices have plummeted, with bitcoin currently trading in a range of around $20,000 to $25,000.
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