In a recent update, the Securities and Exchange Commission (SEC) has decided to delay the decision on spot Bitcoin ETF options by 45 more days. As per the Bitcoin ETF news update, this is a huge deal for NYSE as it would delay the decision on whether to allow NYSE to start trading options on spot Bitcoin ETFs or not.
Bitcoin ETF News Today Summed Up-
- On April 8, 2024, the SEC published a notice saying that it “designates May 29, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove.”
- Per this statement, the next deadline for the SEC to approve or disapprove of New York Stock Exchange bitcoin ETF options is May 29, 2024. This delay in the decision is consistent with a decision made last month in response to Nasdaq petition regarding trade options on BlackRock’s iShares Bitcoin Trust.
- This proposal by NYSE opened doors for two spot Bitcoin ETFs especially – Bitwise Bitcoin ETF and the Grayscale Bitcoin Trust. Further, it would lead to the amendment of Rule 915 allowing Bitwise Bitcoin ETF and Grayscale Bitcoin Trust to be listed and traded.
- As per our resources on Bitwise Bitcoin News, only two public comments were submitted after 45 days of filing. One was from Grayscale CEO Michael Sonnenshein and another from Prof. James Angel of Georgetown University.
Famous crypto personalities in the scene, uhmm!
Conclusion-
The extension would allow the SEC to thoroughly assess the situation, both the pros and cons of rolling out Bitcoin ETF Options. If accepted, it would lead to a revolution in the financial markets leading to the development of appropriate risk management tools and a variety of market views.
Huff! What an interesting Bitwise Bitcoin ETF news update right?
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