Breaking: CBOE Approves Multiple Spot Bitcoin ETFs for Trading

The Chicago Board Options Exchange (CBOE) has approved four potential spot Bitcoin ETFs for trading on its platform, pending the greenlight from the United States Securities and Exchange Commission (SEC).

Spot Bitcoin ETF Almost a Done Deal

The push to launch spot Bitcoin ETFs is almost at its tail end as CBOE has unexpectedly filed a notification to inform the public that its affiliated platform, BZX Exchange has greenlighted the proposed fund offerings from Ark 21Shares with the ticker symbol ‘ARKB’, the Invesco Galaxy Bitcoin ETF ‘BTCO’, the 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 in a bid to facilitate their readiness for trading. This move from the CBOE, according to market experts is not expected until much later in the day as it signifies the final stages of the potential spot Bitcoin ETF approval phase. 

The move is unique to the CBOE and it comes following the meeting the trading platform, alongside other named trading platforms for the spot Bitcoin ETF products like the Nasdaq Composite and New York Stock Exchange (NYSE), had with the officials of the SEC.

This move to approve the spot ETF products from the four applicants underscores the positivity of the discussion between the market regulator and the trading platforms. In like manner, the Nasdaq and the NYSE may also publish related approval updates for the ETFs they plan to list as well.

Is Official Approval In?

The move from CBOE is not expected until after the SEC has given its official approval to the respective spot Bitcoin ETF products.

While this move might not be made if the end-game is a rejection of the numerous applications, investors are not to confuse this CBOE move as an official approval.

With the US SEC’s official X account hacked on January 9 to post fake news stories about spot Bitcoin ETF approvals, extra caution is advocated in order to manage expectations and risks appropriately.

The crypto market is currently on the edge as Bitcoin (BTC) is changing hands at a price of $45,431.79, down by 3.12% in the past 24 hours. Should official approval be granted, the cryptocurrency may reverse its losses in the race for new highs.