Bitcoin and Ethereum ETF Options Delayed by SEC
The United States Securities and Exchange Commission has postponed its decision on approving options trading for spot Ethereum ETFs. The SEC cited the need for more time to review the proposed rule change that would enable Nasdaq ISE LLC and NYSE American LLC to offer options trading for spot Ethereum ETFs. The delay affects funds like BlackRock’s iShares Ethereum Trust (ETHA), Bitwise’s Ethereum ETF (ETHW), Grayscale’s Ethereum Trust (ETHE), and Ethereum Mini Trust (ETH) seeking approval from the commission.
SEC Extends Review Period for Ethereum ETF Options
The SEC initially set a deadline for the decision on options trading for Ethereum ETFs for September 26 and 27, 2024. However, the regulatory body has extended the review period to November 10 and 11, 2024, under Section 19(b)(2) of the Securities Exchange Act. The extension is in line with the SEC’s cautious approach towards crypto-related ETPs, allowing more time to consider the implications of these financial products.
BlackRock’s Bitcoin Trust Options Approved by SEC
While the SEC delays the decision on Ethereum ETF options, it recently approved options on BlackRock’s iShares Bitcoin Trust. The approval allows Nasdaq to list IBIT options under its continued listing standards after an eight-month review period. This decision indicates a positive step towards embracing cryptocurrency-related financial products in the traditional market space.
