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The US SEC has once again delayed making a decision on the application for a Bitcoin ETF spot options.
According to a recent filing, the United States Securities and Exchange Commission has postponed the decision to introduce Bitcoin ETF options trading and is soliciting public opinions. The SEC states that comments must be provided within the next 21 days, with rebuttals due within 35 days.
The agency questions whether spot Bitcoin ETF options should adhere to the same rules as stock options.
"Should specific Bitcoin ETP options be subject to the same position limits as stock options, and should the available supply in the Bitcoin market be considered when determining position limits for Bitcoin ETP options?"
Some exchanges have applied to allow options trading on newly approved spot Bitcoin ETFs, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC, and NYSE American LLC.
In January, the SEC also delayed consideration of Grayscale and Bitwise's applications to launch Bitcoin options ETFs. The regulatory agency deems it appropriate to allocate additional time to take action on proposed rule changes. The next deadline for SEC approval or delay of options-based ETFs is May 21.
In February, Grayscale CEO Michael Sonnenshein announced the need to launch a spot Bitcoin ETF options market. Sonnenshein believes the product will benefit both retail and institutional investors.
Sonnenshein notes that the company still has a long way to go before the investment product is approved by the United States Securities and Exchange Commission. In terms of complexity, he compared it to launching a cryptocurrency ETF itself. |
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Post time 3-5-2024 15:05:26
