Six potential spot bitcoin ETFs are poised for trading on Cboe, pending final SEC decision.
Cboe Global Markets has positioned Thursday as the tentative kickoff for trading a selection of spot bitcoin exchange-traded funds (ETFs), contingent on pending approvals from the Securities and Exchange Commission (SEC). This announcement signals a pivotal moment in the cryptocurrency investment landscape, as market participants eagerly anticipate the SEC's decision.
In a preparatory move, Cboe circulated notifications identifying six promising spot bitcoin ETFs: ARK 21Shares Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, Franklin Bitcoin ETF, Invesco Galaxy Bitcoin ETF, VanEck Bitcoin Trust, and WisdomTree Bitcoin Fund. "We are pleased to announce that 1 Exchange Traded Product ('ETP') will be listed on Cboe and will begin trading as a new issue on January 11, 2024," Cboe stated.
While Cboe has outlined plans for these six ETFs, additional listings are anticipated on other major exchanges, with three set for the New York Stock Exchange (NYSE) and two for Nasdaq. The final approval from the SEC remains a crucial step, with the industry speculating that the agency might greenlight multiple spot bitcoin ETFs later on Wednesday. This hinges on the approval of both the 19b-4 forms and the S-1 forms, both essential prerequisites for the commencement of trading.
The timing for these approvals remains a topic of much conjecture. A senior executive from one of the prospective ETF issuers spoke of approvals by Wednesday night. Adding to this, an analyst suggested that these approvals might extend until approximately 6pm EST, possibly occurring after the market's close.
In a curious turn of events on Tuesday, the SEC's official account briefly posted a now-deleted message implying the approval of listing bitcoin ETFs, which was later clarified as unauthorized and premature. Despite this social media mishap, it seems the process remains on track, with the potential launch of these groundbreaking ETFs poised to mark a new chapter in cryptocurrency investment opportunities.