Cboe BZX Requests Acceleration of Registration for Proposed Bitcoin ETFs
The Cboe BZX exchange has sent letters to the Securities and Exchange Commission (SEC) requesting “acceleration of registration” for several proposed spot bitcoin ETFs. These include the Invesco Galaxy Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, VanEck Bitcoin Trust, Franklin Bitcoin ETF, and the ARK 21Shares Bitcoin ETF.
The exchange is seeking to facilitate timely listing by asking for acceleration of registration under Rule 12d1-2 of the Securities Exchange Act of 1934. While the SEC has not yet approved these funds, this move indicates that approval may be imminent. The crypto market has been anticipating the regulator’s approval of these proposed funds.
Bloomberg Intelligence analyst James Seyffart commented that this request is essentially a plea to list the funds as soon as possible. He noted that it is a late step in the process but expected nonetheless.
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Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he covered South Florida and held various editorial roles. Nathan has conducted interviews with presidents, government ministers, and CEOs throughout his career. In addition to crypto, he has reported on major news events such as earthquakes and hurricanes.
Hot Take: Acceleration of Registration Signals Potential Approval for Bitcoin ETFs
The Cboe BZX exchange’s request for acceleration of registration for proposed bitcoin ETFs suggests that approval from the SEC may be on the horizon. This move indicates that the end game for these funds could be near, bringing excitement to the crypto market. If approved, these ETFs would provide investors with easier access to bitcoin and potentially contribute to its mainstream adoption. The anticipation surrounding this development highlights the growing interest in cryptocurrencies among traditional investors. As the regulatory landscape continues to evolve, the potential approval of bitcoin ETFs could have a significant impact on the overall crypto market.
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