According to a post by James Seyffart, the three exchanges withdrew their requests to market Bitcoin ETF options on that site.
However, he said, the most well-known exchanges, such as Nasdaq and the New York Stock Exchange (NYSE), are still included on the list.
According to his analysis, there has been movement in the Bitcoin ETF options applications since the Chicago Board Options Exchange (CBOE) withdrew its application. CBOE, however, submitted a wholly revised and fresh application.
UPDATE: There's definitely some movement on Bitcoin ETF options. CBOE just withdrew their application for options on spot #Bitcoin ETFs. Which sounds like a bad thing at first… But at the same time they just re-filed a brand new and updated application https://t.co/L8qYTDXzPb pic.twitter.com/8BQG6JMROn
— James Seyffart (@JSeyff) August 8, 2024
Seyffart countered that it was impossible to know if the SEC communicated with the CBOE on this matter and that it may just be another attempt to “restart the clock” and push out the deadline for making a judgment until late April 2025.
According to Bloomberg experts, the fourth quarter of this year is when Bitcoin ETF options are expected to be released, he said. The SEC judgment is due in full by September 21st, “but more action from the CFTC [Commodity Futures Trading Commission] and OCC [Office of the Comptroller of the Currency] is required after that,” he stated.
Exchanges Await SEC Decision on Trading of Bitcoin ETF Options
The market had a fascinating day on Thursday since Cboe, Nasdaq, and NYSE withdrew their prior petitions. Why the three transactions appeared to agree is partially evident. However, Cboe’s choice to refile indicates the rationale behind the choice.
Whatever the situation, the final date of the SEC decision may be postponed. In the meantime, Seyffart has commented on the latest development. He pointed out that verifying whether the regulator and CBOE are already in communication about this is impossible.
Still, he expressed his opinion that there is cause for concern that the SEC may have provided some kind of input.
Seyffart’s assertion was based on the observation that Cboe’s application increased in length from 15 to 44 pages. He ended by outlining two potential outcomes. The new application will probably start the approval clock over if the SEC still needs to get involved. On the other hand, a deadline only matters if the regulator is. He stated, in part:
“One downside here is that I think this restarts the clock. So the deadline would move to some time at the end of April (Apr 25th-ish)”.
As deduced by Seyffart from Cboe’s refiling, Eric Balchunas, a fellow Bloomberg analyst, too, saw the event as positive. Balchunas agrees, saying that if the regulator were going to refuse approval flatly, they wouldn’t have bothered to communicate. Additionally, the analyst wrote in part:
“Just as “comments from the SEC” was a good sign in our ETF approval odds, we think this is good sign here too.”
The post CBOE Refiles Detailed Bitcoin ETF Options Plan After Initial Withdrawal appeared first on Coinfomania.
