Cboe Affirms Acceptance of Several Bitcoin ETF Applications

The Chicago Board Options Exchange (Cboe) has taken a bold step by submitting a formal request to the Securities and Exchange Commission (SEC) to expedite the approval of several Bitcoin spot ETF applications. It is expected that the exchange is making preparations to list these ETFs as early as tomorrow.

Cboe has filed a “Request for Acceleration” with the SEC, specifically seeking to speed up the approval process for various proposed spot Bitcoin ETFs. Some of the ETFs included in this request are the Invesco Galaxy Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, VanEck Bitcoin Trust, Franklin Bitcoin ETF, and the ARK 21Shares Bitcoin ETF.

The exchange’s requests highlight the need for a quicker registration process under Rule 12d1-2 of the Securities Exchange Act of 1934, amended, in order to ensure the timely listing of these securities, as stated in one of the letters.

While Cboe has granted approval for these applications to be listed on its exchange, it is important to note that this does not guarantee approval from the SEC. Bloomberg analyst Eric Balchunas pointed out that this move seems to be a “request for acceleration,” which is essentially the final phase before S-1 effectiveness.

The cryptocurrency market has been eagerly awaiting the regulator’s decision on these numerous proposed funds, with a potential announcement expected as soon as today.

James Seyffart, an analyst at Bloomberg Intelligence, described this development as essentially a request for immediate listing. He stated, “I was anticipating this to happen after the market closed today, so it’s a bit early but still within expectations. This signifies a very advanced stage in the approval process.”

This is an ongoing story.

Tags: Bitcoin, Bitcoin ETF, Crypto news