Cboe BZX Exchange has approved the listing of spot Bitcoin ETFs from multiple asset managers, including ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, WisdomTree, and Franklin Templeton. The United States Securities and Exchange Commission (SEC) has yet to give full approval. Still, the Cboe’s approval is a significant step towards approving shares of a spot Bitcoin exchange-traded fund (ETF).
Looks like the first "request for acceleration" (which is a request to launch on same day as everyone else, in this case 1/11, which the SEC told issuers to put in today) has dropped. We were expecting them at 4pm, but earlier is fine (ARK is always the first in this stuff), it's… pic.twitter.com/HEi6jB56qY
— Eric Balchunas (@EricBalchunas) January 10, 2024
The deadline for final approval or denial of the spot Bitcoin ETF from ARK 21Shares is January 10, between 4 PM and 6 PM GTM -5, leading to speculation that the SEC may approve multiple offerings from asset managers simultaneously. The Cboe BZX Exchange has requested the acceleration of registration of these securities under Rule 12d1-2 of the Securities Exchange Act of 1934, as amended, to facilitate timely listing.
Happy ETF Approval Day (for real this time) to all those who celebrate.. as far as we know it's ALL SYSTEMS GO. Most likely is we see formal approvals ballpark 4-6pm today with the Derby starting on Thursday. We are ready at Bloomberg, getting DES pages up as we speak. pic.twitter.com/sh8aoYypdg
— Eric Balchunas (@EricBalchunas) January 10, 2024
The Cboe filings were the final pre-requisite before the S-1 asset manager filings with the SEC were fully approved. If the regulator approves a spot Bitcoin ETF on January 10, some experts expect the investment vehicles to be open to trading as early as January 11.
Cboe’s Spot Bitcoin ETF Listing Is a Major Milestone
The approval of the spot Bitcoin ETFs by Cboe BZX Exchange is a significant development in the cryptocurrency market. It will allow investors to invest in Bitcoin without having to own the cryptocurrency itself. The ETFs will track the price of Bitcoin and will be traded on major exchanges like Nasdaq, Cboe BZX, and NYSE Arca.
The approval of the spot Bitcoin ETFs by Cboe BZX Exchange is a significant development in the cryptocurrency market. It will allow investors to invest in Bitcoin without having to own the cryptocurrency itself. The ETFs will track the price of Bitcoin and will be traded on major exchanges like Nasdaq, Cboe BZX, and NYSE Arca.
In conclusion, the approval of the spot Bitcoin ETFs by Cboe BZX Exchange is a significant step towards the approval of shares of a spot Bitcoin exchange-traded fund (ETF) by the SEC. The ETFs will provide investors with an opportunity to invest in Bitcoin without having to own the cryptocurrency itself.
