The Chicago Board Options Exchange on Wednesday approved all six of its prospective bitcoin ETF applicants and announced trading will start on Thursday. The Securities and Exchange Commission confirmed approval of the instruments Wednesday afternoon.
The Cboe Wednesday afternoon released new issue notifications for all the bitcoin ETF applicants that applied to trade on the exchange. The list includes ARK and 21Shares, Fidelity, Franklin Templeton, Invesco and Galaxy Digital, VanEck, WisdomTree. The rest of the 13 potential issuers applied to trade on the Nasdaq or New York Stock Exchange.
The six bitcoin ETFs will start trading on the Cboe at 9:30 a.m. Thursday.
Earlier Wednesday, the Cboe approved each of the bitcoin ETFs and submitted a letter to the SEC requesting the regulator expedite its approval process.
As expected by analysts and potential issuers, the SEC approved a wave of bitcoin ETFs late Wednesday. Trading was set to begin as soon as market opens on Thursday. And excitement is running high as many industry experts expect spot bitcoin ETFs to draw a flood of institutional investment.
Bitcoin price fell near $45,500 following the Cboe announcement after recovering near $46,000 intraday. It's not a major surprise as some experts such as ARK Invest CEO Cathie Wood predict some profit-taking following bitcoin ETF approval.
Fake Bitcoin ETF Announcement
The SEC's X social media account was compromised late Tuesday and posted a false announcement that spot bitcoin ETFs were approved. Bitcoin quickly shot up to $47,900 around 4:30 p.m. ET following the social media post before dropping as low as $44,385 overnight Tuesday.
Wednesday's SEC announcement was confirmed as genuine. Bitcoin traded above $46,055 late Wednesday afternoon.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
