Nasdaq ISE pulls in Bitcoin and Ethereum options trading
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Nasdaq ISE has released a proposal for trading options on Bitcoin and Ethereum ETFs. Other exchanges have also drawn similar proposals, which are expected to do so again.
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Nasdaq ISE (International Securities Exchange) has canceled plans to list and trade in Bitcoin and Ethereum exchange-traded funds (ETFs), according to information provided by the SEC.
The exchange withdrew its proposals on Tuesday. The takedown notices follow similar moves by other exchanges in recent days, saying no comments were received after publication in the Federal Register on Aug. 12, 2024.
MIAX, MIAX Pearl and BOX Exchange have also withdrawn their respective proposals to list and trade in their respective Bitcoin ETFs. Cboe initially withdrew the application but revised it again, possibly indicating continued engagement with the SEC on the matter.
NYSE American LLC joined the trend on Thursday by removing listing and trading options on Bitwise Bitcoin ETF and Grayscale Bitcoin ETF. These moves occur because the SEC has not approved trading for options products on spot Bitcoin and Ethereum ETFs.
Despite the possible withdrawals, Bloomberg Intelligence analyst James Seifert predicts that Nasdaq and the NYSE will soon raise their proposals for listing and trading on Bitcoin ETFs.
“As we've seen from the CBOE, I expect them to resubmit in the coming days or weeks,” Seifert said in a post on X.
Recent proposal withdrawals and re-examinations signal a period of regulatory adjustment in the crypto ETF options market.
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