NYSE, Nasdaq raise 3 more questions for crypto ETF options rule changes
The New York Stock Exchange (NYSE) of the US and the Nasdaq International Securities Exchange (ISE) have raised three additional questions regarding regulatory changes to list options on Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs). After market close on August 14th and 15th.
Cash outs are the current activity around BTC and ETH ETF options in the United States. In the year On August 13, NYSE Arca adopted another requested rule change intended to pave the way for listing crypto ETF options.
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The Nasdaq ISE has lifted requests to list and trade options representing Bitcoin and Ether trust shares, respectively. NYSE America has similarly dropped a request to “allow listing and trading of options on the Bitwise Bitcoin ETF, Grayscale Bitcoin Trust (BTC) and any trust that holds bitcoin.”
The filings follow statements from the US Securities and Exchange Commission in July asking for more time to consider the proposals.
Comments from Nasdaq in May revealed that the exchange is seeking to demonstrate that “each of the specified Bitcoin ETP shares for which an exchange proposes to list options are ‘widely held and actively traded' as required by the exchange's rules.”
In February, Grayscale, the largest crypto funder with approximately $25 billion in assets under management, urged the SEC to “update its antiquated, historic safeguards” and “approve exchanges' applications to list options on bitcoin-traded products.” ” including Greyscale Bitcoin Trust (GBTC).
Analysts see the exchange's move to reach an agreement with the SEC to list crypto ETF options as an indication of positive progress.
“There is definitely some movement in Bitcoin ETF options,” Bloomberg Intelligence analyst James Seifert said in a note on X. “The SEC probably gave some kind of feedback.”
Investors in the US are currently allowed to trade options that track the performance of BTC, but not ETFs that physically hold Bitcoin.
“[I]According to the Greyscale letter, while it is acceptable for investors to invest in stock options for commodity derivatives, investing in stock options for commodity derivatives should be the same.
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