NewsletterBreaking: 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.
Read Also: Ripple Labs to Buy Back $285M Stake in Major Shareholder Move
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