Bitcoin (BTC)

Game on? Bitcoin ETFs Poised to Launch as CBOE Files Hint at Approval

The long-awaited moment for Bitcoin enthusiasts might finally be upon us. Filings on the CBOE website this Wednesday indicate that multiple spot Bitcoin exchange-traded funds (ETFs) could begin trading as early as Thursday.

Among the ETFs listed for potential trading are the Ark/21Shares Bitcoin ETF, Franklin Templeton Bitcoin ETF, WisdomTree Bitcoin Fund, and Invesco/Galaxy Bitcoin ETF. These entries on the CBOE website suggest that the issuers have completed the necessary steps for listing and are awaiting final approvals.

Bitcoin ETFs Expected to start trading on Jan. 11Cboe 

However, a cloud of uncertainty hangs over the exact timing of the launch. While the CBOE filings suggest imminent arrival, neither CBOE nor the Securities and Exchange Commission (SEC) have officially commented on the approval status of these ETFs. Kyle Da Cruz, head of digital assets product at VanEck Investments, told Reuters that they are still awaiting confirmation from the SEC, with an expected answer later on Wednesday.

The possibility of multiple spot Bitcoin ETFs hitting the market simultaneously is a significant development. These ETFs would provide investors with a regulated and convenient way to gain exposure to Bitcoin, potentially attracting new capital and boosting the overall market. This could lead to increased volatility in the short term, but could also contribute to greater long-term stability and liquidity for Bitcoin.

The SEC’s stance on Bitcoin ETFs has been a source of frustration for many in the cryptocurrency space. The agency has repeatedly rejected proposals for spot Bitcoin ETFs, citing concerns about market manipulation and investor protection. However, the recent CBOE filings suggest a possible shift in the regulatory landscape, with the SEC potentially ready to greenlight these products under stricter conditions.

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