📣 SEC hits pause on NYSE's proposal for Bitcoin ETF options trading. 📈🚀
- The SEC needs more time to mull over the proposed rule change, with the next deadline set for May 29.
- Grayscale Bitcoin Trust and Bitwise Bitcoin ETF are directly affected as they hold BTC on the NYSE.
- The proposal, submitted in Feb 2024, would allow trading options on certain Bitcoin ETFs by changing Rule 915.
- Grayscale CEO, Michael Sonnenshein, is pushing for the SEC to approve options trading on spot Bitcoin ETFs. He believes it could lead to a "robust and healthy market."
Meanwhile, the SEC is also pondering over seven spot Ethereum ETFs, with a decision due by May 23.
Spot Bitcoin ETFs are gaining traction globally, with Chinese mainland-based equity funds filing applications to introduce spot Bitcoin ETFs through their Hong Kong subsidiaries.
What are your thoughts on this? Share in the comments! 💭 #DeFi #BitcoinETFs