Bitcoin ETF

April

The SEC postponed a decision on two requests to bring options on spot Bitcoin ETFs to market following the successful launch by nine issuers, excluding Grayscale’s GBTC.
According to a March 6 filing, the U.S. SEC delayed approving, denying, or initiating rule change processes for an application to list and trade options on BlackRock’s iShares Bitcoin ETF (IBIT) filed by Nasdaq.&nbsp;
A comment period for the proposal has already opened, and some five people have supplied feedback, asking the SEC to greenlight options trading on BlackRock’s spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETF. Nasdaq <a href="https://crypto.news/sec-acknowledges-nasdaqs-spot-bitcoin-etf-options-request/" target="_blank" rel="noopener noreferrer nofollow">filed</a> the request in January, shortly after the securities watchdog approved Bitcoin-backed funds from issuers like BlackRock, Fidelity, and ARK 21Shares.&nbsp;
The SEC <a href="https://www.sec.gov/files/rules/sro/ise/2024/34-99681.pdf" target="_blank" rel="noopener noreferrer nofollow">chose</a> April 24 as the deadline to either approve, disapprove, or institute proceedings to determine whether to deny the proposed rule change.
<blockquote class="wp-block-quote">
 The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. <cite>SEC filing</cite>
</blockquote>
You might also like: <a href="https://crypto.news/sec-acknowledges-nasdaqs-spot-bitcoin-etf-options-request/" rel="noopener noreferrer nofollow"> SEC acknowledges Nasdaq’s spot Bitcoin ETF options request </a>
America’s securities regulator also deferred a decision to allow or disallow the Chicago Board Options Exchange (Cboe) from offering spot Bitcoin ETF options. Per a separate <a href="https://www.sec.gov/files/rules/sro/cboe/2024/34-99680.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a>, this proposal has also been delayed until April 24.&nbsp;
Under existing laws, Cboe can list and trade options on any exchange-traded product at least three days after the fund debuts on registered exchanges. In a Jan. 5 statement, the platform clarified that funds underpinned by digital assets like Bitcoin fall outside the purview of these rules.
Grayscale CEO Michael Sonnenshein last month <a href="https://crypto.news/grayscale-ceo-calls-for-regulatory-approval-on-spot-bitcoin-etf-options/" rel="noopener noreferrer nofollow">urged</a> the SEC to swiftly approve options trading on spot Bitcoin ETFs, noting that denying shareholders and ETF investors of this tool would be a disservice.&nbsp;
Read more: <a href="https://crypto.news/grayscale-bitcoin-etf-options/" rel="noopener noreferrer nofollow"> Grayscale CEO advocates for spot Bitcoin ETF options </a>

SEC delays spot Bitcoin ETF options request until April 4

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