According to documents filed by the U.S. Securities and Exchange Commission (SEC), the New York Stock Exchange (NYSE) and the Nasdaq Exchange (Nasdaq) have both withdrawn their listing applications for a total of four Bitcoin and Ethereum spot ETF options. Analysts expect Applications will be resubmitted in the coming weeks.
(13F reporting is due soon, institutions hold $54.2 billion in Bitcoin ETFs in the second quarter)
New York Stock Exchange withdraws BTC ETF option listing application
The filing states that the New York Stock Exchange withdrew its listing and trading applications for two Bitcoin spot ETF options, including Bitwise’s BITB and Grayscale’s GBTC.
The proposal, which the exchange withdrew on August 9, asked for longer time to act on the proposal on July 19.
SoSoValue data shows that the above-mentioned 2 ETFs have net assets under management of US$2.16 billion and US$13.15 billion respectively.
Last week, the exchange also submitted option listing proposals for a total of three Ethereum spot ETFs from the two issuers mentioned above, which are still pending.
(The New York Stock Exchange submitted listing requests for three Ethereum ETF options, Grayscale and Bitwise)
Nasdaq subsequently withdrew
Just yesterday, Nasdaq also stated in a document that it had withdrawn its option application for the second Bitcoin and Ethereum spot ETF:
The proposal was put out for public comment on the 12th, and the exchange withdrew the proposal on the 13th without receiving any comments.
Nasdaq did not disclose which 2 option applications were withdrawn. It is reported that the exchange currently lists Valkyrie's BRRR, BlackRock's IBIT and ETHA, with market values of 507 million, 19.94 billion and 809 million US dollars respectively.
Last week, other options exchanges including MIAX and BOX Exchange also withdrew related option applications.
Analyst: Resubmission expected in a few days
Faced with the withdrawal of applications from many exchanges in recent weeks, Bloomberg analyst James Seyffart is as optimistic as ever:
Nasdaq and the New York Stock Exchange withdrew their applications for Bitcoin ETF options trading, but I expect they will resubmit documents in the coming days and weeks, just like we saw with the Chicago Options Exchange ( CBOE).
Seyffart has previously said that the deadline for the SEC's final decision is September 21, after which approval by the Office of the Comptroller of the Currency (OCC) and the Futures Trading Commission (CFTC) is still required.
It is reported that CBOE added dozens of pages of content after resubmitting its application, which shows that the regulatory agency focuses on aspects such as position restrictions and market manipulation.
(Institutions love ETFs! BlackRock’s BTC holdings are approaching 350,000, and is it expected to surpass Satoshi Nakamoto before the end of the year?)
This article, The New York Stock Exchange and Nasdaq both withdraw their option applications for multiple BTC and ETH ETFs, first appeared on Chain News ABMedia.
