According to Decrypt, the Fidelity Wise Origin Bitcoin Fund has received approval to be listed on the CBOE exchange, as per a new SEC filing. However, this is dependent on whether the SEC grants Fidelity permission to offer its spot Bitcoin ETF to investors. The SEC has until January 10 to approve, reject, or delay its decision on the pending Bitcoin ETF applications it is considering. Analysts at Bloomberg Intelligence predict that the SEC will make an announcement between January 8 and January 10.
A Bitcoin ETF would allow traditional investors to gain exposure to Bitcoin without the need to buy and store the digital asset directly. This has led analysts to expect a rush of Wall Street cash into crypto if an ETF is approved. Over the past 10 years, Bitcoin ETF applicants have faced rejection from the SEC, mainly due to concerns about potential manipulation in crypto markets. However, the entry of traditional finance heavyweights like Fidelity and BlackRock has changed the situation.
The Fidelity Bitcoin ETF would trade on CBOE under the FBTC ticker. It is important to note that having a ticker listed on the DTCC is not the same as an SEC approval. The crypto industry learned this lesson when the ticker for BlackRock’s iShares Bitcoin Trust was removed from the list in October, causing market instability. A DTCC spokesperson clarified that the ticker’s inclusion was not indicative of any outcome for any outstanding regulatory or other approval process.
