CBOE files application to list Fidelity’s Bitcoin ETF

The Chicago Board Options Exchange (CBOE) has filed an application to list Fidelity Investments’ Wise Origin Bitcoin Trust, an exchange-traded fund.

The U.S. Securities and Exchange Commission (SEC) is set to begin reviewing the application and respond within 45 days. Regulators can extend the period by up to 240 days, after which a final decision will be issued.

According to CBOE representatives, the SEC’s long-standing concern about potential market manipulation of exchange-traded products is no longer as pressing as the market matures and becomes more liquid.

“The approval of this application would give the Commission the opportunity to provide American investors with access to bitcoin through a transparent and regulated exchange-traded instrument,” the document states.

According to the organisation, the ETF would alleviate some consumer risks, in particular those associated with purchasing shares of crypto companies regarded as “quasi-investments” in bitcoin.

Fidelity filed for the launch of an ETF in March 2021. The fund’s custodian will be Fidelity Digital Assets, the company’s cryptocurrency-focused division.

Earlier, CBOE filed documents for listing VanEck ETF. The filing is based on a petition from the investment company dated December 30, 2020.

On May 7, 2021, VanEck filed with the SEC for the launch of Ethereum-based ETF. According to the document, its shares would be listed on the Cboe BZX exchange.

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