- SEC grants accelerated approval for Spot Bitcoin ETFs on NYSE and Cboe.
- Nearly $2 billion inflows recorded for Bitcoin ETFs in a week.
- Nasdaq’s prior approval and Bitcoin’s 16% value increase set positive market expectations.
The Securities and Exchange Commission just gave the nod to Spot Bitcoin ETF trading on NYSE American LLC and Cboe Exchange – two of the most prominent stock exchanges in the United States.
According to a recent filing by NYSE, the commission granted “accelerated approval” to the listing and trading of ETF options. The listing includes FOFO, ARKB, BTIG, and FBT. Also prominent are VBK, WTB, GBTC, and GBMT. Rounding out the list are BITW, IBIT, and VBK.
The SEC also granted accelerated approval to the exchange Cboe to list FOFO, ARKB, BTIG, FBT, VBK, WTB, GBTC, BITW, IBIT, and VBK.
Despite not being a guarantee, the SEC’s grant of Accelerated Approval means that the process of listing these assets is gaining priority – meaning that if NYSE and Cboe comply with future regulatory requirements the filings will more than likely be accepted.
Bitcoin ETF Market Gaining Liquidity
October’s third week recorded an impressive inflow into Bitcoin ETFs, amassing nearly 2 billion dollars since Monday.
The accelerated approval grant by the SEC is likely to be accepted because the commission had already granted Nasdaw the same approval in August – with the full approval a month later. At the time, Nasdaq was allowed to list iShares Bitcoin Trust ETF.
This development could have had a big impact on the market as Bitcoin ETF inflows averaged $18.9 billion and Bitcoin itself has gained 16% in value since Nasdaq’s accelerated approval was first announced.
