Bitcoin ETF

Bitcoin

The U.S. SEC has again postponed its decision on applications for spot Bitcoin ETF options.
According to a <a href="https://www.sec.gov/files/rules/sro/box/2024/34-100024.pdf" target="_blank" rel="noopener noreferrer nofollow">recent filing</a>, the <a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>&nbsp;delayed&nbsp;its decision to launch options trading on the Bitcoin <a href="https://crypto.news/tag/etf/" target="_blank" rel="noopener noreferrer nofollow">ETF</a> while requesting public comment.&nbsp;The SEC said comments must be provided within the next 21 days and rebuttals within 35 days.
The agency has questioned&nbsp;whether options on spot Bitcoin ETFs should follow the same rules as stocks.
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 “Whether options on the specified Bitcoin ETPs should be subject to the same position limits as options on stock, and whether the available supply in the markets for bitcoin should&nbsp;be considered&nbsp;in establishing position limits for options on Bitcoin ETPs.” <cite>SEC filing</cite>
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A&nbsp;few exchanges have applied to allow options trading on the newly approved spot Bitcoin ETFs, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC, and NYSE American LLC.
In April, the SEC also delayed consideration of&nbsp;Grayscale and Bitwise applications to launch <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> options ETFs.&nbsp;The regulator considered it appropriate to assign a&nbsp;longer&nbsp;period to take action on the proposed rule change. The next deadline for the SEC to approve or delay the launch of options-based ETFs is May 29.
In February, Grayscale CEO Michael Sonnenshein <a href="https://crypto.news/grayscale-ceo-calls-for-regulatory-approval-on-spot-bitcoin-etf-options/" target="_blank" rel="noopener noreferrer nofollow">announced</a> the need to launch an options market for spot Bitcoin ETFs. Sonnenshein expressed confidence that this product will benefit both retail and institutional investors.
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 As we look ahead, I think it’s never been more important for the <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> and ETF communities alike to advocate for the development of a robust listed options market for spot <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#bitcoin</a> ETFs. Although <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$GBTC</a> has been in the public market since 2015, it was never accompanied by listed…— Sonnenshein (@Sonnenshein) <a href="https://twitter.com/Sonnenshein/status/1754487928418369599?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 5, 2024</a>
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According to Sonnenshein, companies have a long way to go before the SEC approves this investment product. In terms of complexity, he compared it to launching cryptocurrency ETFs themselves.
You might also like: <a href="https://crypto.news/grayscale-bitcoin-etf-options/" rel="noopener noreferrer nofollow"> Grayscale CEO advocates for spot Bitcoin ETF options </a>

US SEC postpones decision on spot Bitcoin ETF options

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