- Cboe website shows several Bitcoin ETFs set to begin trading on Thursday, but SEC has not formally approved any Bitcoin ETFs yet
- Unclear if Bitcoin ETF trading will actually start on Thursday without SEC approval, as SEC has rejected or delayed decisions on Bitcoin ETFs before
- Cboe website updates sparked optimism and debate about how close SEC is to approving Bitcoin ETFs, which could attract billions in investments
Cboe Says Bitcoin ETF to Start Trading Thursday Ahead of SEC’s Official Approval. The exchange’s website listed six Bitcoin ETF applicants to start trading tomorrow. The SEC has not formally approved any Bitcoin ETFs yet.
Cboe website shows Bitcoin ETFs trading Thursday
The Cboe website shows several bitcoin ETFs that are expected to begin trading on Thursday, even though the SEC has not officially approved any bitcoin ETFs yet.
The Cboe website lists the following Bitcoin ETFs with a start date of February 16, 2023:
- WisdomTree Bitcoin Trust
- Valkyrie Bitcoin Fund
- Grayscale Bitcoin Trust
- Galaxy Bitcoin ETF
- VanEck Bitcoin Trust
- NYDIG Bitcoin ETF
Unclear if trading will actually start without SEC approval
It is unclear if trading will actually commence on Thursday without formal approval from the SEC.
The SEC has previously rejected or delayed decisions on Bitcoin ETF applications due to concerns around volatility, liquidity, custody and potential manipulation.
The SEC has yet to approve a cryptocurrency ETF, so it would be unprecedented for these Bitcoin ETFs to begin trading without the SEC’s official green light.
Bitcoin price jumped on Cboe website updates
When the Cboe website was updated to show the Bitcoin ETF trading start dates, Bitcoin’s price jumped as much as 3% on the news.
However, Bitcoin’s price gains were pared back as uncertainty grew around whether the ETFs would actually begin trading on Thursday without SEC approval.
Bitcoin ETFs expected to attract big investments
The launch of Bitcoin ETFs is hotly anticipated because it will allow mainstream investors and institutions to gain exposure to Bitcoin through traditional investment accounts rather than dealing with cryptocurrency exchanges.
Bitcoin ETFs could attract hundreds of millions or even billions of dollars of investments from big institutional investors and retirement funds. JPMorgan analysts estimate Bitcoin ETFs could attract $6 billion alone this year.
So the SEC’s decision whether to green light Bitcoin ETF trading has huge implications for Bitcoin’s price and role as an institutional investment.
Conclusion
Cboe’s website may have gotten ahead of itself by posting Bitcoin ETF trading start dates before the SEC has officially signed off.
Unless the SEC provides last-minute approval, it appears unlikely Bitcoin ETF trading will actually commence on Thursday. Still, the Cboe website updates sparked optimism and debate about just how close the SEC is to finally approving Bitcoin ETFs.
