In a significant development, the Cboe BZX Exchange has formally announced the approval of securities listings for several asset managers, including the much-anticipated ARK 21Shares Bitcoin ETF (ARKB).
This move comes as the market eagerly awaits the decision of the U.S. Securities and Exchange Commission (SEC) on the potential approval of a spot Bitcoin (CRYPTO: BTC) ETF.
Cboe's Announcement Paves Way For ARK 21Shares Bitcoin ETF
According to a letter addressed to the SEC on Wednesday, the Cboe BZX Exchange stated that it has approved the listing of ARKB.
The Exchange has requested an acceleration of registration under Rule 12d1-2 of the Securities Exchange Act of 1934, indicating readiness for the timely listing of these securities.
Eric Balchunas Weighs In On Cboe's Filing
Bloomberg ETF analyst Eric Balchunas commented on the development, stating that the Cboe's filing represents a "very late step" in the process.
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He described it as essentially a request to list the ARKB ETF as early as the next day, indicating that this development was expected, albeit earlier than anticipated.
Potential Immediate Impact On Trading
Should the SEC approve a spot Bitcoin ETF on Jan. 10, experts anticipate that the investment vehicles could be open for trading as early as Jan. 11.
This rapid turnaround would mark a significant moment in the integration of cryptocurrency into mainstream financial markets, offering investors a new avenue to engage with Bitcoin through a regulated exchange.
The approval of ARKB and other such ETFs would be a milestone in the cryptocurrency sector, potentially paving the way for increased institutional investment and broader market acceptance of digital assets.
As the financial world awaits the SEC's decision, the move by Cboe BZX Exchange signals a readiness within the market infrastructure to embrace these new investment products.
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