After filing an application last January to allow options trading on certain Bitcoin spot ETFs, NYSE Arca has finally decided to withdraw the application. But for what reasons?
NYSE Arca Withdraws Application for Spot Bitcoin ETF Options
NYSE Arca, a branch of the New York Stock Exchange, has finally decided to withdraw an application filed last January to allow options trading on certain Bitcoin spot ETFs.
According to the official document issued by the United States Securities and Exchange Commission (SEC), NYSE Arca no longer wishes to offer options on the Bitcoin spot ETFs of Grayscale, Bitwise and “ any trust offering Bitcoin “.
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However, while this sounds like bad news at first glance, the move could potentially herald a positive move from regulators.
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Indeed, the Chicago Board Options Exchange (CBOE) had also recently withdrawn a similar request concerning options on spot Bitcoin ETFs.
But according to Bloomberg Intelligence analyst James Seyffart, the CBOE subsequently filed an amended application, which could suggest that the SEC may have requested some changes to these investment vehicles. and therefore that it would have demonstrated a certain openness to dialogue.
According to James Seyffart, the first request from the CBOE consisted of 15 pages, compared to 44 in the new filing, which fuels the hypothesis of a dialogue with the American regulator.
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The new CBOE filing mentioned spot Bitcoin ETFs from Fidelity, Ark Invest & 21Shares, Invesco, Franklin Templeton, VanEck, WisdomTree, Grayscale, Bitwise, BlackRock and Valkyrie.
Finally, let's point out that recently, BlackRock and Nasdaq joined forces to request the opening of options trading on the financial giant's Ethereum spot ETF with the SEC. The regulator will have to decide on this matter by April 2025 at the latest..
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Source: SEC
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