Cboe Announces Six Bitcoin ETFs, Awaits SEC Green Light

The Cboe BZX Exchange has announced its readiness to list six new spot Bitcoin exchange-traded funds (ETFs) on January 11, 2024. This move comes as the Securities and Exchange Commission (SEC) nears its decision on the approval of these ETFs, a decision eagerly awaited by investors and market analysts.

The ETFs poised for listing include Invesco Galaxy Bitcoin ETF (BTCO), Franklin (EZBC), ARK 21Shares (ARKB), VanEck Bitcoin Trust (HODL), Fidelity Wise Origin Bitcoin Fund (FBTC), and WisdomTree Bitcoin Fund (BTCW). This diverse array of ETFs reflects the growing interest and variety in Bitcoin investment vehicles, catering to different investor preferences and strategies.

Cboe BZX issues listing circulars for 6 new #Bitcoin ETFs to list tomorrow Jan 11, 2024.

Invesco Galaxy Bitcoin ETF $BTCO
Franklin Bitcoin ETF $EZBC
ARK 21Shares Bitcoin ETF $ARKB
VanEck Bitcoin Trust $HODL
Fidelity Wise Origin Bitcoin Fund $FBTC
WisdomTree Bitcoin Fund $BTCW… pic.twitter.com/GJkq6yLFRB

— ETF Hearsay by Henry Jim (@ETFhearsay) January 10, 2024

Bitcoin ETF Approval Process in the Final Stage

Despite the excitement, the SEC’s final approval, crucial for these ETFs to begin trading, is still pending. As per the process, the approval of 19b-4 and S-1 forms is necessary for these funds to become active. Bloomberg ETF analyst Eric Balchunas indicated that formal approvals will likely be announced around 4-6 pm ET today. This development would mark a significant milestone in integrating cryptocurrency into mainstream investment channels.

Adding to the anticipation, Eleanor Terrett revealed that at least one issuer had received confirmation from the SEC about the approval of their ETF today. However, she also noted a cautionary sentiment, quoting a senior executive from a Bitcoin spot ETF applicant,

“This is Gensler, so who knows when this happens.”

Implications of the SEC’s Decision

The SEC’s impending decision is not just a procedural step but a pivotal moment for the cryptocurrency industry. Approval of these ETFs would signify a shift in the regulatory landscape, potentially opening doors for more mainstream investment in Bitcoin. It also reflects the SEC’s evolving stance on cryptocurrencies, balancing regulatory oversight with market innovation.

Moreover, the approval could fundamentally change how investors engage with Bitcoin. In addition, offering a regulated and potentially safer avenue for Bitcoin investment, these ETFs can attract a broader range of investors, including those hesitant to invest directly in cryptocurrencies due to concerns over volatility and security.

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Bitcoin ETF

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

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