Cboe Seeks Faster SEC Action on Spot Bitcoin ETF, Verifying Listing Certificates of Multiple Applications.

The Chicago Board Options Exchange (Cboe) has taken the bold step of asking the Securities and Exchange Commission (SEC) to accelerate applications for multiple bitcoin spot exchange-traded funds (ETFs). The exchange is expected to prepare for ETF listing by tomorrow.

Cboe file for ‘acceleration request’

Cboe BZX exchange has filed a request with the Securities and Exchange Commission (SEC) to expedite the approval process for several proposed spot Bitcoin ETFs. These include the Invesco Galaxy Bitcoin ETF, Fidelity Wise Origin Bitcoin Fund, VanEck Bitcoin Trust, Franklin Bitcoin ETF, and ARK 21Shares Bitcoin ETF.

The exchange’s request states that “accelerated registration” is needed under Rule 12d1-2 of the Securities Exchange Act of 1934, as amended, to ensure timely listing of these securities, as noted in one of the letters.

Although Cboe has approved these applications to list securities on the exchange, this step does not guarantee SEC approval. Bloomberg analyst Eric Balchunas noted that the move appears to be essentially an “acceleration request,” the final step before the S-1 goes into effect.

The cryptocurrency market is eagerly anticipating a decision from regulators on a number of these proposed funds, possibly as soon as today.

Commenting on the development, Bloomberg Intelligence analyst James Seyffart explained that this is essentially an immediate listing request. “We were expecting this after the market closed today, so it’s a little early, but still within our expectations. This represents a very late stage in the approval process,” Seyffart noted in a post to X.

This is a story that develops