U.S. Exchanges Set for Bitcoin ETF Trading Surge on January 11 Approval

In a groundbreaking move, the U.S. SEC has given its approval for Bitcoin ETFs, leading to a rush among major exchanges - NASDAQ, NYSE, and Cboe - to initiate trading from January 11. Traditional exchanges are keenly responding to the heightened demand for these ETFs, with anticipation building up in the market.

Regulatory Milestone Achieved

After months of regulatory scrutiny and delays, the SEC's green light on January 10 for eleven Bitcoin Spot ETF proposals, including those from Ark 21Shares, Blackrock, Fidelity, and VanEck, has injected optimism into the market.

Exchanges Preparing for Trading Onslaught

Traditional exchanges like NASDAQ, NYSE, and Cboe are now diligently preparing to list Bitcoin ETFs. Documents are swiftly filed as these exchanges aim to cater to the burgeoning demand, providing millions of investors access to this newly approved asset class.

Trading Platforms for Respective ETFs

• BlackRock and Valkyrie have chosen NASDAQ for launching their ETFs.
• Bitwise, Grayscale, and Hashdex are set to list on the NYSE.
• Ark 21 Shares, WisdomTree, Invesco, Fidelity, VanEck, and Franklin plan to list on Cboe BZX.

Screenshot from VanEck’s website.

Cboe's Early Excitement and Subsequent Correction

Cboe, overwhelmed with enthusiasm, prematurely announced the listing of six spot Bitcoin ETFs before the SEC officially approved the filings. This caused a brief period of uncertainty, leading to a minor Bitcoin price dip. However, Cboe promptly retracted its announcements, clarifying that it awaited SEC approval. With the SEC's official nod, the uncertainty has lifted, and Cboe is set to join the trading frenzy.

Screenshot of new listings section on Cboe.

Skepticism Persists Despite Approval

Despite the monumental approval of Bitcoin ETFs, a significant portion of the financial world remains skeptical about Bitcoin and cryptocurrencies.

Significance of the Approval

The SEC's approval of Bitcoin ETFs marks a highly anticipated milestone in the financial industry. Global market participants have been eagerly awaiting this development, and with the official green light, U.S. exchanges are poised for a transformative shift with the introduction of this new asset class.