Spot Bitcoin ETFs Get Approval from CBOE
The Chicago Board of Mercantile Exchange (CBOE) has given the green light to four potential spot Bitcoin ETFs for trading on its platform, pending approval from the United States Securities and Exchange Commission (SEC).
Almost at the Finish Line
CBOE has filed a notification announcing that its affiliated platform, BZX Exchange, has approved the proposed fund offerings from Ark 21Shares, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, and Fidelity Wise Origin Bitcoin Fund. The CBOE is pushing for expedited registration of these products to prepare for trading.
Positive Discussions with the SEC
The approval from CBOE follows discussions between the trading platforms and the SEC. This move indicates progress in the potential approval phase for spot Bitcoin ETFs. It is likely that Nasdaq and NYSE will also publish approval updates for the ETFs they plan to list.
Official Approval Pending
It’s important to note that CBOE’s move does not indicate official approval until the SEC gives its go-ahead. Investors should not mistake this as a confirmation of approval.
Lot of bad takes about this being official approval. This is not an approval. Its a request for acceleration. My tweet would have WAY more caps and way more aggressive language if it were an approval order. haha
— James Seyffart (@JSeyff) January 10, 2024
Given the recent hacking of the US SEC’s official account to spread fake news about spot Bitcoin ETF approvals, caution is advised to manage expectations and risks appropriately.
Crypto Market on the Edge
The cryptocurrency market is currently volatile, with Bitcoin experiencing a 3.12% decrease in the past 24 hours, trading at $45,431.79. If official approval is granted, Bitcoin may reverse its losses and aim for new highs.
Hot Take: Spot Bitcoin ETFs Nearing Approval
The CBOE’s approval of four potential spot Bitcoin ETFs signals progress in the journey towards their official launch. While the SEC’s approval is still pending, this development brings hope to crypto investors who anticipate increased accessibility and legitimacy for Bitcoin investments. However, it’s crucial to remain cautious due to recent security breaches and misinformation surrounding ETF approvals. The crypto market remains unpredictable, with Bitcoin experiencing fluctuations in its value. As the industry awaits official confirmation, all eyes are on the SEC’s decision, which could have a significant impact on Bitcoin’s future trajectory.
By
By
By
By
By
By