The Chicago Board Options Exchange (CBOE) has filed the Bitcoin (BTC) exchange-traded fund on Fidelity’s Wise Origin exchange with the US Securities and Exchange Commission.
CBOE filed a Form 19b-4 Monday to list Fidelity’s Wise Origin Bitcoin ETF, which was originally filed with the SEC by the $ 4.9 trillion asset manager in March.
Monday Form 19b-4, This makes CBOE an exchange partner for Fidelity’s Bitcoin ETF filing, It triggered the SEC approval process.
The SEC’s first response window closes after 45 days. Thereafter, the SEC decides to extend the request or reject it entirely. In total, the SEC has 240 days to evaluate the application of Fidelity’s Bitcoin ETF.
In April, the SEC postponed its decision on the VanEck Bitcoin ETF filing until June.
With the CBOE filing, Fidelity’s application will also be added to a list of emerging Bitcoin ETFs.in addition to VanEck, which owns WisdomTree and SkyBridge Capital.
Mike Novogratz ‘Galaxy Digital has also filed a Bitcoin ETF application with the SEC, with NYSE Arca as an exchange partner.
The company through its subsidiary, also launched a BTC ETF product in Canada in March. Indeed, Canada has become a North American Bitcoin ETF trading hub amid a series of approvals from securities regulators in the country.
Meanwhile, up-and-coming Bitcoin ETFs in the US are keen for the SEC under Gary Gensler to do so Approval of an ETF product for the largest cryptocurrency by market capitalization.
However, recent comments from the SEC commissioner may indicate that such an outcome is not yet possible. In early May, Gensler called for better protection for investors in the cryptocurrency market.
Under Jay Clayton, former SEC chairman, The commission regularly identified concerns about volatility, price manipulation and investor protection as reasons for not approving Bitcoin ETF applications.