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Bitcoin ETF Options Face Setback as NYSE Withdraws Proposal
Highlights:
NYSE American retracts plans to list options on Bitwise and Grayscale Bitcoin ETFs due to regulatory uncertainty.
SEC delays leave the fate of Bitcoin ETF options uncertain, though approval is still possible by late 2024.
Other exchanges follow suit, pulling similar proposals amid ongoing market ambiguity.
NYSE American has withdrawn its proposal to list options on Bitwise and Grayscale Bitcoin ETFs, reflecting growing frustration with the slow-moving regulatory environment. The SEC's extended review process has left potential Bitcoin ETF options in limbo, forcing exchanges like Cboe, MIAX Pearl, and BOX Exchange to also pull back their plans.
Despite these setbacks, industry experts remain hopeful that Bitcoin ETF options could still gain approval by the fourth quarter of 2024. Such approval would offer investors new tools for hedging and speculation, potentially enhancing market dynamics.
However, the regulatory landscape remains complex, not only for Bitcoin but also for Ethereum, where similar ETF options are facing delays. This ongoing uncertainty continues to shape the evolving crypto market, limiting opportunities for investors in the short term.
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