SEC Approves Ethereum ETF Options
U.S. regulators are reviewing a request to list Ether (ETH) exchange-traded funds (ETFs) on the NYSE, the U.S. securities exchange's first option to list, according to a filing on Nov. 8.
If approved, the NYSE will be allowed to list options on Bitwise Ethereum ETF (ETHW), Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH) and “any trust that holds Ether.”
The SEC's decision is the latest sign that the agency is softening its stance on crypto products, especially after crypto-friendly Donald Trump won the Nov. 5 presidential election.
Source: SEC
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In September and October, the SEC approved three exchanges — NYSE American, Nasdaq and Cboe Exchange — to trade options on 11 Bitcoin (BTC) ETFs, including Bitwise and Grayscale's.
The same three exchanges asked the SEC for permission to list ETH ETF options in August.
The listing of BTC options on regulated US exchanges will be a sign of “great growth” in cryptocurrency markets and will create “extremely compelling opportunities” for investors, Jeff Park, Head of Alpha Strategies at Bitwise Invest, in a September 20 X post.
To begin trading, the exchanges still need a signal from two other regulatory bodies – the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC).
On Oct. 11, the SEC delayed deciding on a rule change that would allow Cboe Exchange to list options tied to several popular spot ETH currencies, the filing said.
The deadline for a decision by the agency has been pushed from October 19 to December 3, according to the application.
The top ETF will launch in 2024. Source: ETF Store
Trump's presidential win is the green light for more than half a dozen proposed crypto ETFs awaiting regulatory approval to list in the US.
In the year In 2024, asset managers Solana filed several regulatory filings to list ETFs that hold altcoins, including SOL, XRP XRP and Litecoin LTC, among others.
A number of proposed crypto index ETFs designed to hold different baskets of issuers are awaiting approval.
On November 4, the SEC began reviewing Greyscale's request to list the first ETF to hold a basket of various cryptocurrencies, including several altcoins.
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