Originally published on: November 08, 2024
The Securities and Exchange Commission (SEC) is currently evaluating a proposal to introduce options linked to spot Ether exchange-traded funds (ETFs) on the NYSE American’s securities exchange. This move, as outlined in a recent filing on November 8, could potentially pave the way for the listing of Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and other Ether-holding trusts.
This decision by the SEC comes amidst increasing openness towards cryptocurrency products, a trend that has been highlighted since Donald Trump’s recent presidential election triumph. In fact, this development follows the approval granted to three exchanges – NYSE American, Nasdaq, and Cboe Exchange – to trade options on 11 Bitcoin ETFs in September and October, including offerings from Bitwise and Grayscale.
The potential listing of spot BTC options on regulated US exchanges is seen as a significant step forward for cryptocurrency markets, offering enticing prospects for investors. Jeff Park, Bitwise Invest’s head of alpha strategies, noted in September that this advancement would create “extremely compelling opportunities.”
Though the SEC has delayed a ruling on Cboe Exchange’s proposal for listing ETH ETF options until December 3, the regulatory landscape appears to be gradually evolving. This shift has also opened doors for a series of proposed crypto ETFs waiting for approval in the US, showcasing a broader acceptance of digital assets.
Looking ahead, 2024 could witness the launch of several notable ETFs holding altcoins like Solana, XRP, and Litecoin. Additionally, plans for crypto index ETFs are in the pipeline, aiming to provide investors with diversified exposure to various tokens.
As the SEC continues to explore new avenues for cryptocurrency investments, it is evident that the industry is on the cusp of significant growth and innovation. Stay tuned for more updates on the evolving crypto landscape!
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