The trading of Spot Bitcoin ETFs is set to commence tomorrow, following the anticipated approval of these investment products by the US Securities and Exchange Commission (SEC). The Chicago Board Options Exchange (CBOE) has confirmed that six out of the eleven pending ETFs will start trading on Thursday. These include the Invesco Galaxy Bitcoin ETF (BTCO), Franklin Bitcoin BTF (EZBC), ARK 21Shares Bitcoin ETF (ARKB), VanEck Bitcoin Trust (HODL), Fidelity Wise Origin Bitcoin Fund (FBTC), and WisdomTree Bitcoin Fund (BTCW).
However, the CBOE has stated that the listing of these investment products is subject to SEC approval. The digital asset market has been abuzz with discussions about the impending Spot Bitcoin ETF for several months. Despite initial doubts about the SEC’s stance, the approval now seems inevitable as we approach 2024.
The CBOE has validated the growing probability that permissions will be granted by the end of today, just hours after approving the listings. The remaining Spot Bitcoin ETFs, which are listed on the Nasdaq and New York Stock Exchanges, are still awaiting approval. Industry experts predict that trading could begin as early as Thursday morning.
According to a senior executive at one of the applying firms, the SEC is expected to approve the applications for Spot Bitcoin ETFs following the close of today’s trading. Fox Business reports that the first applications are likely to be accepted shortly after 4:00 pm ET today, aligning with earlier expectations.
Today also marks the deadline for many potential issuers. However, preliminary sources assure that the SEC will likely accept more than one application. There are currently over a dozen pending applications for the investment product. The approval of multiple Spot Bitcoin ETFs by the SEC will lead to intense competition, as was evident in the debate over advertisements that began prior to approvals.
Price competition has also been observed, with asset management companies Grayscale, Fidelity, and BlackRock attempting to outbid each other on investment businesses’ pricing schemes. With the introduction of the Bitcoin ETF, global banking giant Standard Chartered has predicted that the price of Bitcoin (BTC) might reach $200,000 by the end of 2025.
In other news, the Thai SEC has banned crypto firms from providing staking and lending services. Pro-Russian groups have reportedly sourced $2.2 million in crypto to fund the Ukraine war. Lastly, a review encourages users to get started on crypto banking on their mobile devices.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | None |
| Companies | Chicago Board Options Exchange, US Securities and Exchange Commission, ARK 21Shares, Standard Chartered, BlackRock, Franklin Bitcoin BTF, VanEck Bitcoin Trust, Invesco Galaxy, Ark Invest, Fidelity Wise Origin Bitcoin Fund, WisdomTree Bitcoin Fund, Grayscale, Franklin Templeton |
| Currencies | Bitcoin |
| Securities | Franklin Bitcoin ETF (EZBC), VanEck Bitcoin Trust (HODL), Invesco Galaxy Bitcoin ETF (BTCO), ARK 21Shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Fund (FBTC) |
