SEC on Verge of Approving Spot Bitcoin ETF; Multiple Asset Managers Await Decision
Summary:
The U.S. Securities and Exchange Commission (SEC) is potentially nearing approval for the listing of a spot Bitcoin exchange-traded fund (ETF). This comes after the Cboe BZX Exchange permitted securities listings from asset management firms like ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, and Franklin Templeton. As the SEC has until January 10 to finalize a decision on ARK 21Shares' Bitcoin ETF, it is speculated that multiple offerings could be approved simultaneously.
The U.S. Securities and Exchange Commission (SEC) might be on the brink of giving the green light for the listing of a spot Bitcoin (BTC) exchange-traded fund. This development follows the Cboe BZX Exchange's authorization for the securities listings from multiple asset management firms. In written communications to the SEC on January 10, the Cboe confirmed that it had sanctioned spot BTC ETFs from ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, and Franklin Templeton. The SEC has until January 10 to make a final decision regarding the approval of ARK 21Shares' spot Bitcoin ETF, suggesting the possibility that the SEC might approve a series of proposals from various asset management firms all at once. "The exchange is seeking an expedited authorization of these securities in accordance with Rule 12d1-2 of the Securities Exchange Act of 1934, as revised," Cboe mentioned. The letter of approval from the CBOE was dated January 10, 2024. It is worth noting that the Cboe approved the registration for listing Fidelity's spot Bitcoin ETF, but the SEC has yet to grant approval. This news is still budding, and more details will be provided as they surface.
Published At
1/10/2024 7:20:38 PM
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