Only two months after submitting VanEck’s Bitcoin ETF request with the American financial regulator, the Chicago Board Options Exchange (CBOE) has filed another request on Monday for Fidelity’s Wise Origin BTC ETF.
Per the reports, initially, the COBE applied two months ago. On Monday, America’s biggest asset manager submitted Form-19b4. Following the application from the $4.9 trillion worth company, which makes the CBOE an exchange partner for the firm’s ETF filling, the SEC has pushed the approval process.
According to the law, the American regulator has as many as 45 days for review, and then the agency will approve or reject the request altogether.
Fidelity is now among several contenders, including SkyBridge Capital and WisdomTree, waiting for a go-ahead from the American regulator. Meanwhile, with New York Stock Exchange Arca as its exchange partner, another famous firm Galaxy Digital has also applied with the federal regulator.
On the other hand, many crypto experts are optimistic about an effective response from the SEC as Gary Gensler – a prominent promoter of the digital assets – took charge of the commission.
But contrary to their hopes, the most recent comments by the SEC’s head suggest a different outcome. While talking to a gathering earlier this month, Gensler called for broader rules and regulations to protect the investors.