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News

NYSE Now Withdrew Bitcoin ETF Options and Commodity Trusts Proposal

August 15, 2024 - Around 2 mins mins to read

Key Points:

  • The NYSE withdrew its February proposal to list and trade on Bitcoin ETF options, including Bitwise Bitcoin ETF and Grayscale’s GBTC.
  • Nasdaq asked the SEC to approve options for BlackRock’s iShares Ethereum Trust (ETHA), with spot Bitcoin ETF options expected to be available in Q4.
The New York Stock Exchange (NYSE) pulled back a proposal submitted in February that had asked for enabling the listing and trading of options tied to commodity trusts, including cryptocurrency ETFs like Bitwise Bitcoin ETF and Grayscale’s GBTC.
NYSE Now Withdrew Bitcoin ETF Options and Commodity Trusts Proposal

Read more: Bitcoin ETF Options Trading Postponed By SEC For Closer Review

NYSE Pulls Back on Crypto ETF Options Proposal

The move comes as part of a wider, more comprehensive evolution concerning the regulation of Bitcoin ETF options.

Previously, on August 8, the Chicago Board Options Exchange changed its application to list Bitcoin ETF options. At the same time, NYSE Arca also pulled its request with Bitcoin ETF options.

On August 6, Nasdaq submitted an application to the US SEC for listing options of BlackRock’s iShares Ethereum Trust (ETHA), and Bloomberg assumes that spot Bitcoin ETF options could already be available as early as Q4.

Options for Grayscale Direct Bitcoin ETF Denied

It is currently possible to trade options on U.S. ETFs that track Bitcoin, but options on ETFs holding Bitcoin directly are yet to come.

Grayscale has been strongly pushing for parity, saying that if options on ETFs linked to Bitcoin derivatives are allowed, then options on ETFs that hold the cryptocurrency directly should also be. If options of this kind were to get approved, it would mean absolutely huge steps toward the mainstreaming of cryptocurrency in conventional financial markets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Bitcoin ETF Options

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

NYSE Now Withdrew Bitcoin ETF Options and Commodity Trusts Proposal

Key Points:

  • The NYSE withdrew its February proposal to list and trade on Bitcoin ETF options, including Bitwise Bitcoin ETF and Grayscale’s GBTC.
  • Nasdaq asked the SEC to approve options for BlackRock’s iShares Ethereum Trust (ETHA), with spot Bitcoin ETF options expected to be available in Q4.
The New York Stock Exchange (NYSE) pulled back a proposal submitted in February that had asked for enabling the listing and trading of options tied to commodity trusts, including cryptocurrency ETFs like Bitwise Bitcoin ETF and Grayscale’s GBTC.
NYSE Now Withdrew Bitcoin ETF Options and Commodity Trusts Proposal

Read more: Bitcoin ETF Options Trading Postponed By SEC For Closer Review

NYSE Pulls Back on Crypto ETF Options Proposal

The move comes as part of a wider, more comprehensive evolution concerning the regulation of Bitcoin ETF options.

Previously, on August 8, the Chicago Board Options Exchange changed its application to list Bitcoin ETF options. At the same time, NYSE Arca also pulled its request with Bitcoin ETF options.

On August 6, Nasdaq submitted an application to the US SEC for listing options of BlackRock’s iShares Ethereum Trust (ETHA), and Bloomberg assumes that spot Bitcoin ETF options could already be available as early as Q4.

Options for Grayscale Direct Bitcoin ETF Denied

It is currently possible to trade options on U.S. ETFs that track Bitcoin, but options on ETFs holding Bitcoin directly are yet to come.

Grayscale has been strongly pushing for parity, saying that if options on ETFs linked to Bitcoin derivatives are allowed, then options on ETFs that hold the cryptocurrency directly should also be. If options of this kind were to get approved, it would mean absolutely huge steps toward the mainstreaming of cryptocurrency in conventional financial markets.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.