Regulatory Momentum Builds As CBOE Greenlights Fidelity Filing, Goldman Sachs Eyes ETF Role
Benzinga – by Khyathi Dalal, Benzinga Staff Writer.
CBOE (BATS: CBOE) approved Fidelity’s application Wednesday for the “listing of the Shares of the Trust” for its spot Bitcoin ETF.
A filing for the Fidelity Wise Origin Bitcoin Fund indicates that the proposed ETF meets the requirements for listing a new financial product and is seemingly a positive step forward in getting regulatory acceptance for a Bitcoin ETF.
“An application for listing of the Shares of the Trust has been filed with and approved by Cboe BZX Exchange, Inc,” the filing stated.
Last week, it was reported that Fidelity Investments will charge 0.39% per year to holders of its Wise Origin Bitcoin Trust — lower than Galaxy/Invesco at 0.59%.
Crypto commentator and host of Crypto Traders Club Space, MartyParty took to X and stated that “8-A means they are now a registered security that can be traded PUBLICALLY!!!!”
Founder of Rug Radio, Farokh took to his X platform and said, “Don’t let bozo fake reporters make you believe #BTC ETFs are not happening.”
Bloomberg analyst James Seyffart took to X and stated, “My understanding is that this is just a securities registration. To list the ETF still needs a 19b-4 approval and they need an effective/approved/completed S-1 document. No 19b-4 yet. And S-1 is still preliminary. I’m still looking towards next week.”
Meanwhile, Goldman Sachs (NYSE: GS) is likely to play a key “authorized participant” role in the Bitcoin ETFs of BlackRock and Grayscale, according to CoinDesk.
Goldman Sachs will reportedly create and redeem ETF shares to ensure the products trade in lockstep with their underlying assets.
Close observers expect each Bitcoin ETF to ultimately have five to 10 APs. Similarly, JPMorgan Chase, Jane Street, and Cantor Fitzgerald announced they would take on the authorized participant job for some of the ETF issuers.
Price Action: Seeing a marginal correction from the day’s losses, Bitcoin (CRYPTO: BTC) prices are down 4.4% in the past 24-hour trading session, taking its seven-day losses to 1.3%.
Now Read: Solana Plummets 14% On Heels Of Spot Bitcoin ETF Delay Rumor, $640M Liquidation Cascade
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