tl;dr
The United States-based Cboe BZX Exchange has accepted the registration for listing shares of a spot Bitcoin exchange-traded fund (ETF) proposed by Fidelity Investments. This marks a crucial point in the journey of the Fidelity Wise Origin Bitcoin Fund towards potential SEC approval. However, the ap...
The United States-based Cboe BZX Exchange has accepted the registration for listing shares of a spot Bitcoin exchange-traded fund (ETF) proposed by Fidelity Investments. This marks a crucial point in the journey of the Fidelity Wise Origin Bitcoin Fund towards potential SEC approval.
On January 3, the Fidelity Wise Origin Bitcoin Fund filed a Form 8-A with the U.S. Securities and Exchange Commission (SEC). This filing is a standard procedure in the registration of an ETF. However, it’s important to note that this does not guarantee SEC’s approval of the investment vehicle. The process includes needing a 19b-4 approval and a completed S-1 document. The potential approval of a spot Bitcoin ETF by the SEC is a topic of speculation within the crypto community.
The journey towards a spot BTC ETF in the U.S. has been a long and uncertain one. Despite numerous applications from prominent asset managers like Bitwise, Fidelity, WisdomTree, and others, the SEC has yet to approve a spot BTC exchange-traded product for listing on a U.S. exchange. In contrast, the commission has approved investment vehicles linked to BTC and Ether ETH futures, a move seen as cautious but progressive.
The approval of a spot Bitcoin ETF by the SEC could have significant implications for the crypto industry. It’s widely believed that such a move could increase cryptocurrency adoption and boost the acceptance of blockchain technology. This sentiment is echoed by many in the industry, who view the approval of a spot Bitcoin ETF as a key milestone in mainstream financial acceptance of cryptocurrencies.
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