Cboe green lights multiple Bitcoin ETFs from leading asset managers

The Chicago Board Options Exchange (Cboe) has approved listing several spot Bitcoin ETFs from prominent asset managers, signalling a potential shift in the investment landscape.

However, this green light is pending final approval from the United States Securities and Exchange Commission (SEC), adding a layer of anticipation to the crypto market.

Approved Bitcoin ETFs by Cboe

In letters filed with the SEC on January 10, Cboe said it had approved spot Bitcoin ETF listings from ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, WisdomTree, and Franklin Templeton. Cboe is pushing for an expedited registration under Rule 12d1-2 of the Securities Exchange Act of 1934.

The move suggests that the spot Bitcoin ETFs are entering the final stages of approval, with the Cboe's letters to the SEC serving as the last step before asset manager filings are fully approved.

Notably, this development comes after discussions between trading platforms, including Nasdaq and the New York Stock Exchange, and SEC officials, underscoring positive engagement between market regulators and platforms.

SEC’s decision and market speculation

The SEC faces a critical decision on the final approval or denial of the spot Bitcoin ETF from ARK 21Shares, with a deadline set for January 10. Analysts speculate that the SEC may green-light multiple offerings from asset managers simultaneously.

Market experts, however, remain cautious after a recent incident where the SEC's official X account posted fake news about spot Bitcoin ETF approvals, although the SEC later said the account had been compromised.

As Bitcoin hovers at $45,431.79, down by 3.12% in the past 24 hours, the potential approval of these ETFs could trigger a market reversal. If granted, these ETFs could provide traditional investors with a regulated avenue to invest in Bitcoin, potentially reshaping the accessibility and legitimacy of cryptocurrency investments.