Exchanges start to take next step toward potential approval of spot bitcoin ETFs

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The Block2024/01/10 17:19

By:The Block

Quick Take The Cboe BZX exchange sent letters to the Securities and Exchange Commission on Wednesday, requesting “acceleration of registration” for proposed spot bitcoin ETFs.

Exchanges start to take next step toward potential approval of spot bitcoin ETFs image 0

The Cboe BZX exchange sent letters to the Securities and Exchange Commission on Wednesday, requesting "acceleration of registration" for proposed spot bitcoin ETFs including the Invesco Galaxy Bitcoin ETF , Fidelity Wise Origin Bitcoin Fund , VanEck Bitcoin Trust , Franklin Bitcoin ETF and the ARK 21Shares Bitcoin ETF .

"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," one of the letters stated.

The the SEC has not yet approved the funds, but it's the latest step in the process that shows the end game could be near. The crypto market has widely been expecting the regulator to approve the dozen of proposed funds today.

"This is essentially a request to list tomorrow," Bloomberg Intelligence analyst James Seyffart said in post on X. "Was expecting this after close today. So this is early, but still expected. This is a very late step."

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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