<img src="https://crypto.news/app/uploads/2023/10/crypto-news-nft-sales-surge-after-SEC-fails04.webp” />
The SEC postponed a decision on two applications 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 US 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.
A comment period for the proposal has already opened, and about five people have provided comments, asking the SEC to give the green light to options trading on BlackRock's bitcoin (btc) spot ETF. Nasdaq filed in January, shortly after the securities watchdog approved bitcoin-backed funds from issuers including BlackRock, Fidelity and ARK 21Shares.
The second elected April 24 as the deadline to approve, disapprove or initiate proceedings to determine whether to reject the proposed rule change.
The Commission believes it is 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.
SEC Filing
The US securities regulator also deferred a decision on whether or not to allow the Chicago Board Options Exchange (Cboe) to offer spot options on bitcoin ETFs. separately presentationThis proposal has also been delayed until April 24.
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 statement on January 5, the platform clarified that funds backed by digital assets like bitcoin fall outside the scope of these rules.
Grayscale CEO Michael Sonnenshein last month urged the SEC to quickly approve options trading in spot bitcoin ETFs, noting that denying ETF shareholders and investors this tool would be a disservice.
