Spot

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/nyse-withdraws-btc-etf-options-listing-proposal/" data-wpel-link="internal">NYSE Withdraws BTC ETF Options Listing Proposal</a><br></p>
<p style="text-align: justify">Cryptocurrencies are advancing significantly with the strong interest of investors familiar with traditional finance. Besides the fluctuations in spot prices, the growth in the ETF channel reflects long-term potential. While this article was being prepared, <a href="https://en.coin-turk.com/wall-street-embraces-bitcoin-as-a-lucrative-opportunity/" data-wpel-link="internal">BTC</a> erased the gains it had made within hours in two 15-minute candles. This is a troubling situation for altcoins.</p> 
<h2 style="text-align: justify" id="nyse-retracts-proposal">NYSE Retracts Proposal</h2> 
<p style="text-align: justify">NYSE American LLC withdrew its proposal to list options for two spot BTC ETFs according to a filing made a few hours ago. Previously, NYSE had proposed a rule change for the Bitwise BTC ETF. This step, following the withdrawal of proposals by other exchanges including MIAX, MIAX Pearl, and BOX Exchange, is likely the result of discussions with the SEC.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-380346 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/NYSE-BTC-Opsiyon.png" alt="" width="624" height="342"></p> 
<p style="text-align: justify">Although exchanges moved to offer options trading services after the approval of spot ETFs in January, they have not yet managed to get SEC approval. Spot ETFs are much more beneficial in terms of supply scarcity compared to futures and options volumes. Each ETF share purchased by investors corresponds to a certain amount of BTC, and companies physically hold these in their reserves.</p> 
<h2 style="text-align: justify" id="current-status-of-btc-etfs">Current Status of BTC ETFs</h2> 
<p style="text-align: justify">So far, 13F filings have not generated the expected excitement. It was hoped that surprising investment companies would add BTC ETFs to their reserves, but although notable buyers emerged on the MSTR front, the ETF channel remains quiet. Giants like JPMorgan have not yet allowed their advisors to offer spot BTC ETF products to their clients.</p> 
<p style="text-align: justify">Advisors need to obtain “investable” approval from the companies they are affiliated with for ETFs. There is a performance monitoring period of the first 9 to 12 months for new products. Various <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> such as volume and volatility of these ETFs are monitored, and large companies make decisions accordingly.</p> 
<p style="text-align: justify">There is not much time left for the first 9 months of the BTC ETF. This means that at least in the last quarter, as the Fed starts cutting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a>, more investors may demand this from companies, and there could be a softening as more detailed data emerges. If supply shocks and other issues are resolved, we could be in a better position by the end of the year and the beginning of 2025.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/nyse-withdraws-btc-etf-options-listing-proposal/" data-wpel-link="internal">NYSE Withdraws BTC ETF Options Listing Proposal</a></h5>
<p>The post <a href="https://en.coin-turk.com/nyse-withdraws-btc-etf-options-listing-proposal/" data-wpel-link="internal">NYSE Withdraws BTC ETF Options Listing Proposal</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

NYSE Withdraws BTC ETF Options Listing Proposal

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