Cboe Announces Thursday Trading Start for Bitcoin ETFs, Despite Pending SEC Approval

The exchange's platform has unveiled its strategy to introduce six new Bitcoin Exchange-Traded Funds (ETFs), scheduled to initiate trading on Thursday. Cboe Global Markets has officially featured ETFs from Ark 21 (ARKB), Fidelity (FBTC), Franklin Templeton (EZBC), Invesco (BTCO), VanEck (HODL), and WisdomTree (BTCW) on its "New Listings" page.

However, it's imperative to understand that the listing on the exchange doesn't imply approval from the U.S. Securities and Exchange Commission (SEC). The SEC is yet to give the green light to the 19b-4 and S1 filings submitted by the ETF applicants. A spokesperson from Cboe clarified this, emphasizing, "We are still awaiting SEC approval of our spot bitcoin ETFs." The notices visible on the website are considered standard procedure in anticipation of the ETFs' impending launch.

This development comes ahead of the potential official approval expected from the SEC on Wednesday. The approval of Bitcoin ETFs holds significance as it could broaden access to Bitcoin for a more diverse range of investors. ETFs provide investors with an alternative pathway to acquire the largest digital asset globally without having to resort to cryptocurrency exchanges, potentially streamlining the investment process.

Presently, the SEC has a backlog of approximately a dozen applicants awaiting approval for their Bitcoin ETFs. The competition to secure market share in the Bitcoin ETF arena is heating up, with applicants strategically lowering fees in anticipation of regulatory approval. The outcome of this competitive race is poised to shape the landscape for Bitcoin investment and pave the way for a more accessible avenue for traditional investors.

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