Spot Bitcoin ETF Trading Approved By CBOE Exchange

Key Points:

• CBOE has asked the SEC to fast-track approval for ARK 21Shares and Invesco Galaxy Bitcoin ETFs, signaling support for spot Bitcoin ETF trading.
• CBOE’s approval of multiple-spot Bitcoin ETFs fuels speculation about potential simultaneous approvals, with a key decision on ARK 21Shares due on January 10.
• The crypto market is eagerly awaiting the SEC’s verdict on spot Bitcoin ETF trading, a decision expected later this week.

Chicago Board Options Exchange (CBOE) has taken a significant step towards the approval of spot Bitcoin exchange-traded funds (ETFs), submitting a letter to the U.S. Securities and Exchange Commission (SEC) urging accelerated approval for the ARK 21Shares Bitcoin ETF and Invesco Galaxy Bitcoin ETF.

CBOE Requests Expedited Approval for Spot Bitcoin ETF Trading

This move signals the CBOE’s green light for the listing of securities and spot Bitcoin ETF trading.

In a series of letters filed on January 10 with the SEC, CBOE confirmed approvals for spot Bitcoin ETF offerings from ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, and Franklin Templeton. The deadline for the final decision on ARK 21Shares’ spot Bitcoin ETF is also set for January 10, sparking speculation about potential simultaneous approvals of multiple offerings from asset managers.

While the SEC has not officially sanctioned the funds, the recent developments suggest progress towards regulatory approval, raising expectations within the crypto market. Bloomberg analyst Eric Balchunas highlighted that this marks the first “request for acceleration,” a significant final step in validating the S-1.

One of the letters to the SEC emphasized, “In order to facilitate timely listing, the Exchange requests acceleration of registration of these securities under Rule 12d1-2 of the Securities Exchange Act of 1934, as amended.” This underscores the urgency and interest in expediting the process.

Cryptocurrency enthusiasts are eagerly awaiting the SEC’s decision later this week, anticipating a potential milestone moment for the digital asset as the regulatory body considers approving spot Bitcoin ETF trading. The outcome could have a profound impact on the broader crypto market.