The U.S. Securities and Exchange Commission (SEC) has again postponed its decision on allowing the listing of options related to an Ethereum spot exchange-traded fund (ETF), according to an October 11 filing.

The SEC has delayed approval of a rule change that would allow Cboe Exchange to list options on several popular ETH spot funds. The agency’s decision has been pushed back from October 19 to December 3, according to a filing.

In August, Cboe filed an application with the SEC asking for permission to list options on nine ETFs, including BlackRock's iShares Ethereum Trust ETF, Fidelity Ethereum Fund, Grayscale Ethereum Trust and Grayscale Mini Ethereum Trust, among others.

In September, the SEC also delayed a similar proposal from the Nasdaq exchange asking for permission to list options on the iShares Ethereum Trust.

On September 20, the SEC allowed Nasdaq to list options related to BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT).

Bitcoin options are currently awaiting final approval from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC) before being listed.

Options on a Bitcoin ETF are expected to launch in the United States in the first quarter of 2025, according to Bloomberg Intelligence analyst James Seyffart.

“I think before the end of this year is feasible for options, but it will probably be Q1 2025,” Seyffart said on October 9.

Options are contracts that give the right to buy or sell an underlying asset at a certain price. In the United States, if one party fails to comply with the agreement, the OCC will step in and execute the trade.

The listing of spot crypto options on regulated exchanges in the United States, where the OCC protects traders from counterparty risk, marks a “significant advancement” in the crypto market and creates “an extremely compelling opportunity” for investors, Jeff Park, head of alpha strategy at Bitwise Invest, said in a post on X on Sept. 20.

Financial advisers, who control as much as half of the investment money in the $9 trillion ETF market, rely on options to hedge against sharp market swings. More than 10% of advisers were actively using options to manage their clients’ portfolios by 2023, according to a survey by the Journal of Financial Planning.



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