The US Securities and Exchange Commission (SEC) has invited public comments on the possible introduction of bitcoin spot ETF options trading. This fact has caused a lot of reaction in the financial market, and experts predict that the regulatory body could grant approval as early as March.
NYSE Files for Bitwise, Grayscale bitcoin Spot ETF Options
in a letter to the SEC on Friday, the New York Stock Exchange (NYSE) requested a rule change that will allow options trading on Bitwise bitcoin ETF (BITC), Grayscale bitcoin Trust (GBTC), and “any trust holding bitcoin.” The NYSE stated that bitcoin spot ETFs are qualified for options trading under US trading laws as they are commodity-backed exchange-traded products (ETPs).
Earlier this month, Bitcoinist reported that Nasdaq submitted a similar proposal to the US securities watchdog seeking permission to list and trade options on BlackRock's multibillion-dollar spot IBIT ETF.
For context, ohOptions are financial derivatives that give the holder the right, but not the obligation, to buy or sell an underlying asset at a predetermined price (strike price) before or on the option's expiration date. In this case, the bitcoin spot ETF represents the underlying asset for which the introduction of options trading will be an advantageous “relatively lower cost investment tool” that will allow traders to gain exposure to these investment funds without a commitment. straight.
The NYSE has stated that all standard exchange rules and regulations will guide all aspects of the listing and trading of spot ETF options, including “listing criteria, expirations, strike prices, minimum raises, limits.” position and exercise, margin requirements, client accounts and trading suspension procedures.” Additionally, bitcoin spot ETF options will also be subject to the continuing listing standards of the New York Stock Exchange and may be delisted if the underlying ETF fails to meet certain standards under US securities law. USA, Rule 916, among many others. conditions.
Analyst Predicts Possible Early Approval for bitcoin ETF Options Trading
As mentioned above, the SEC formally acknowledged the NYSE's latest filing, added the proposal to its official record, and invited public comment over the next 21 days. In response to this important development, Bloomberg analyst James Seyffart has suggested that there may be accelerated consideration of this matter.
If that is the case, Seyffart predict The US regulator could grant approval for bitcoin spot ETF options trading in the next 27 days. In the worst-case scenario, where the SEC takes its time, the Bloomberg analyst believes the approval decision could come around September 21.
bitcoin trading at $50,820 on the daily chart | Source: BTCUSDT chart on Tradingview.com
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