The Chicago Board Options Exchange (CBOE) has approved four potential spot Bitcoin ETFs for trading on its platform, pending the green light from the US Securities and Exchange Commission (SEC).
Spot Bitcoin ETF Almost a done deal
The effort to bring spot Bitcoin ETFs to market is almost at an end as CBOE unexpectedly filed a notice to inform the public that its affiliated platform, BZX Exchange, has greenlit Ark's proposed fund offerings 21Shares with the ticker symbol “ARKB”, which gave Invesco, Galaxy Bitcoin ETF “BTCO”, VanEck Bitcoin Trust “HODL” and Fidelity Wise Origin Bitcoin Fund “FBTC”.
According to the CBOE filing for these products, the trading platform is pushing for expedited registration of these products to facilitate their trading readiness. According to market experts, this move by the CBOE is not expected until much later in the day as it signals the final stages of the potential spot Bitcoin ETF approval phase.
The move is unique to the CBOE and follows the trading platform, along with other designated trading platforms for spot Bitcoin ETF products such as the Nasdaq Composite and the New York Stock Exchange (NYSE), meeting with SEC officials.
This move to approve the four applicants' spot ETF products underlines the positive attitude of the Discussion between the market regulator and the trading platforms. Similarly, Nasdaq and NYSE may also issue relevant approval updates for the ETFs they also wish to list.
Is there official approval?
CBOE's move is only expected after the SEC gives its official approval for the respective spot Bitcoin ETF products.
Although this step may not be implemented if the end game is rejection of the numerous applications, investors should not confuse this CBOE move with official approval.
With the US Securities and Exchange Commission Official X account hacked If fake news about Bitcoin ETF preliminary approvals is released on January 9th, special caution should be exercised to appropriately manage expectations and risks.
The crypto market is currently on the edge as Bitcoin (BTC) changes hands at a price of $45,431.79. Decline of 3.12% in the last 24 hours. If official approval is granted, the cryptocurrency could reverse its losses in the race to new highs.
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