Wednesday, February 5, 2025

Cryptocurrency ETF Options Rule Changes Withdrawn by NYSE and Nasdaq

Originally published on: August 16, 2024

New York Stock Exchange (NYSE) American and Nasdaq International Securities Exchange (ISE) have recently withdrawn three requests for rule changes pertaining to Bitcoin and Ether exchange-traded fund (ETF) options listings. The withdrawal filings were submitted after the market closed on Aug. 14 and 15.

Latest Updates on Crypto ETF Options in the US

Following a series of withdrawals, NYSE Arcawithdrew a requested rule change on Aug. 13 to pave the way for potential listing of crypto ETF options.

Withdrawal Details

Nasdaq ISE has withdrawn requests for the listing and trading of options linked to Bitcoin and Ether trusts. NYSE American also decided to withdraw requests to permit options trading on the Bitwise Bitcoin ETF, Grayscale Bitcoin Trust (BTC), and other bitcoin-related trusts.

Regulatory Developments

The recent filings come after the US Securities and Exchange Commission requested an extension in July for evaluating the proposals.

Seeking SEC Approval

Nasdaq’s statements in May emphasized the importance of demonstrating that shares of specified Bitcoin-based Exchange-Traded Products (ETPs) are widely held and actively traded to align with exchange rules.

Grayscale’s Push for ETF Options

Grayscale, a major player in the crypto fund space with around $25 billion assets under management (AUM), urged the SEC earlier this year to update its approach and approve ETF options for spot Bitcoin products, including the Grayscale Bitcoin Trust (GBTC).

Positive Indicators for Crypto ETF Options

Analysts interpret the recent withdrawals as a positive sign, indicating progress in negotiations between exchanges and the SEC to enable the listing of crypto ETF options.

Bloomberg Intelligence analyst James Seyffart stated, “There’s definitely some movement on Bitcoin ETF options. The SEC likely provided feedback.”

Current Trading Scenario

While US investors can trade options tied to ETFs tracking BTC through derivatives, they do not have similar options for ETFs holding physical Bitcoin. Grayscale’s letter highlighted the need for consistency in allowing investors to trade options based on asset derivatives or the asset itself.

With these recent developments, the future of cryptocurrency ETF options in the US remains dynamic and closely watched by market participants.

Stay Updated on the Latest Crypto-Security Issues

In other news, learn about the peculiar ‘null address’ iVest hack and the ongoing security threats like the ‘Sinkclose’ malware affecting millions of PCs in the crypto world.

Hot this week

Study Finds 1 in 5 US Voters Engaged with Cryptocurrency

Originally published on: December 18, 2024A recent survey conducted...

Revolutionizing Blockchain Technology: Key Takeaways from G6 Networks AMA

Originally published on: December 18, 2024Gabor Bovai and David...

HashKey Group Unveils Revolutionary Ethereum Layer-2 HashKey Chain Mainnet

Originally published on: December 18, 2024HashKey Group, a pioneering...

Beware of Phishing Scammers: A Warning from Ledger’s Users

Originally published on: December 18, 2024Reports have surfaced indicating...

Avara Founder Supports Removal of Polygon Markets from Aave Platform

Originally published on: December 18, 2024Stani Kulechov, the CEO...

Topics

Study Finds 1 in 5 US Voters Engaged with Cryptocurrency

Originally published on: December 18, 2024A recent survey conducted...

Revolutionizing Blockchain Technology: Key Takeaways from G6 Networks AMA

Originally published on: December 18, 2024Gabor Bovai and David...

HashKey Group Unveils Revolutionary Ethereum Layer-2 HashKey Chain Mainnet

Originally published on: December 18, 2024HashKey Group, a pioneering...

Beware of Phishing Scammers: A Warning from Ledger’s Users

Originally published on: December 18, 2024Reports have surfaced indicating...

Avara Founder Supports Removal of Polygon Markets from Aave Platform

Originally published on: December 18, 2024Stani Kulechov, the CEO...

Crypto Communities Across the US Gear Up for Festive Meetups

Originally published on: December 18, 2024As the holidays approach...

Ethena Labs Joins Forces with Trump-Backed World Liberty Financial for Exciting Partnership

Originally published on: December 18, 2024Ethena Labs, a leading...

Unlock Your Football Skills with Cristiano Ronaldo and Binance Partnership

Originally published on: December 18, 2024Binance and Cristiano Ronaldo...
spot_img

Related Articles

Popular Categories

spot_imgspot_img