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The Chicago Board Options Exchange (CBOE) has filed two applications seeking the SEC’s approval for the ARK 21Shares Ethereum ETF and VanEck. 
The <a href="https://www.sec.gov/Archives/edgar/data/1992508/000119312523229449/d450565ds1.htm" data-type="link" data-id="https://www.sec.gov/Archives/edgar/data/1992508/000119312523229449/d450565ds1.htm" target="_blank" rel="noopener noreferrer nofollow">filing </a>of the 19b-4 form is dated Sept. 6. A 19b-4 form is usually presented by self-regulatory organizations, such as the CBOE, asking for a specific requirement from the SEC. 
The SEC will have 240 days to decide if the Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) ETF will be approved or denied. 
 You might also like: <a href="https://crypto.news/grayscale-urges-sec-to-approve-its-spot-bitcoin-etf-filing/" rel="noopener noreferrer nofollow"> Grayscale urges SEC to approve its spot Bitcoin ETF filing </a> 
<h2 class="wp-block-heading" id="what-is-an-etf">What is an ETF?</h2> 
Exchange-traded funds <a href="https://crypto.news/grayscale-urges-sec-to-approve-its-spot-bitcoin-etf-filing/" data-type="link" data-id="https://crypto.news/grayscale-urges-sec-to-approve-its-spot-bitcoin-etf-filing/" rel="noopener noreferrer nofollow">(ETFs)</a> have recently become a simplified and convenient investment option for many assets, including cryptocurrencies like Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>). ETFs allow investors to gain exposure to the performance of an asset or a combination of assets without actually owning them. 
Bitcoin ETF tracks the price of Bitcoin, allowing investors to invest in the world’s major crypto without the need to purchase and manage the cryptocurrency themselves. This eliminates the need for customers to open an exchange account or deal with cryptocurrency wallets, saving them time and effort. 
The appeal of ETFs lies in their ease of use, transparency, flexibility, and relatively low cost. They provide a convenient way for traditional investors to access cryptocurrencies like Bitcoin, which can be volatile and lack regulation. Investing in a regulated ETF can mitigate some risks associated with directly investing in cryptocurrencies. 
The popularity of Bitcoin <a href="https://crypto.news/multiple-bitcoin-etfs-incoming-jp-morgan-analyst/" data-type="link" data-id="https://crypto.news/multiple-bitcoin-etfs-incoming-jp-morgan-analyst/" rel="noopener noreferrer nofollow">ETFs</a> has increased, with institutions and individual investors showing interest in gaining exposure to Bitcoin without actually holding the digital coins. For example, the launch of Purpose’s Bitcoin ETF in Toronto saw significant demand, with approximately 10 million shares sold on the debut day. 
However, the journey towards Bitcoin ETFs has been challenging. Regulatory bodies, such as the US SEC, have been cautious in approving Bitcoin ETFs due to concerns about the volatile nature and lack of regulation in the cryptocurrency market. 
Most recently, SEC has postponed ruling on six spot Bitcoin ETF applications from WisdomTree, Invesco Galaxy, Valkyrie, VanEck, Fidelity, and BlackRock. 
 Read more: <a href="https://crypto.news/us-sec-postpones-ruling-on-6-spot-bitcoin-etf-applications/" rel="noopener noreferrer nofollow"> US SEC postpones ruling on 6 spot Bitcoin ETF applications </a>

CBOE filed two requests for first spot Ethereum ETF

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