CBOE Approves Bitcoin Options Before ETF Release

The Cboe BZX Exchange has recently taken a significant step towards the potential listing of spot Bitcoin ETFs by approving securities listings from several asset managers. On January 10, Cboe filed letters with the U.S. Securities and Exchange Commission (SEC), announcing its approval for spot BTC ETF offerings from ARK 21Shares, Invesco Galaxy, Fidelity, VanEck, WisdomTree, and Franklin Templeton.

These approvals coincide with the deadline for the SEC to make a final decision on the spot Bitcoin ETF from ARK 21Shares, also set for January 10. This development has led to speculation that the SEC might simultaneously approve multiple ETF offerings from different asset managers.

Cboe has requested an acceleration of the registration of these securities under Rule 12d1-2 of the Securities Exchange Act of 1934, indicating a move towards facilitating timely listings. Following this, Cboe published notifications stating that spot Bitcoin ETFs are slated to start trading on its exchange on January 11, 2024. The Cboe website lists the six funds expected to begin trading as ARK 21Shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Fund (FBTC), Franklin Bitcoin ETF (EZBC), Invesco Galaxy Bitcoin ETF (BTCO), VanEck Bitcoin Trust (HODL), and WisdomTree Bitcoin Fund (BTCW).

ETF analyst Eric Balchunas pointed out that these Cboe filings represent the final procedural step before the S-1 filings by asset managers with the SEC are fully approved. If the SEC approves a spot Bitcoin ETF on January 10, trading in these ETFs could commence as soon as January 11.

Amidst this backdrop, on January 9, the SEC’s official X (formerly Twitter) account posted a message suggesting full approval of a spot Bitcoin ETF. However, SEC Chair Gary Gensler quickly responded, stating the account had been compromised, and the message did not represent an official decision on the investment vehicle. This incident led to widespread speculation about whether it was an accidental early release by a hacker or a fabricated announcement to manipulate the crypto market. The X safety team revealed that the SEC’s account did not have two-factor authentication enabled, and several U.S. lawmakers have urged the commission to report on this security breach.

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

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What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

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What is the goal of this portfolio?

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.

This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.

To give an update on the position, each one listed in low to high relative risk:

SoV/money == BTC, DCR

Platforms == ETH, XTZ

Private Money == XMR / ZEC / ZEN

DeFi == MKR / SNX and stablecoins

It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

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