June 5, 2024
Cboe Greenlights Multiple Asset Managers' Bitcoin ETFs
Bitcoin News

Cboe Greenlights Multiple Asset Managers’ Bitcoin ETFs

The approval process for a spot Bitcoin exchange-traded fund (ETF) in the United States appears to be progressing as the Cboe BZX Exchange has notified the Securities and Exchange Commission (SEC) of approved securities listings from various asset managers.

In letters filed on January 10, Cboe disclosed its approval of spot Bitcoin ETF offerings from prominent asset managers including ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, WisdomTree, and Franklin Templeton. The final decision deadline for ARK 21Shares’ spot Bitcoin ETF is also set for January 10, sparking speculation that the SEC might approve multiple offerings simultaneously.

To expedite the listing process, Cboe has requested the acceleration of registration for these securities under Rule 12d1-2 of the Securities Exchange Act of 1934. ETF analyst Eric Balchunas noted that these Cboe filings represent the “last step” before the SEC fully approves the S-1 asset manager filings. If the SEC gives the green light to a spot Bitcoin ETF on January 10, experts anticipate these investment vehicles could become tradable as early as January 11.

The recent developments come amid an unexpected twist on January 9 when the SEC’s official X (formerly Twitter) account posted what seemed to be an announcement of full approval for a spot Bitcoin ETF. SEC Chair Gary Gensler quickly clarified that the account had been “compromised,” denying any decision on the investment vehicle.

The incident has raised questions about the authenticity of the tweet and the SEC’s cybersecurity measures, prompting calls from U.S. lawmakers for the commission to provide a report on the matter.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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