SEC postpones decision on options trading for ethereum ETFs, moving it to November
The U. S. Securities and Exchange Commission is extending its review of spot options trading for several #Ethereum ETFs until November 2024.
#BlackRock , Grayscale and Bitwise are awaiting approval to trade options on their Ethereum ETFs. The delay comes after the SEC approved BlackRock's #bitcoin ETF options deal last week.
On September 23, 2024, the SEC issued two separate notices extending the review period for several Ethereum ETFs. BlackRock's iShares Ethereum Trust (ETHA), Bitwise's Ethereum ETF (ETHW), and Greyscale's Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH) are awaiting regulatory approval to trade options.
The decision deadlines for these funds were originally set for September 26 and 27, 2024, respectively; the SEC has now extended those deadlines to November 10 and 11, 2024.
The extensions were determined pursuant to Section 19(b)(2) of the Securities Exchange Act. This rule allows the SEC to extend the review period if it needs additional time to evaluate the impact of approving such instruments. In the case of BlackRock's ETHA, the SEC explained that it needed sufficient time to consider the proposed rule change.
On BeInCrypto data, BlackRock has filed a proposal to trade options on ETHA products through the NASDAQ ISE in July 2024; in a similar filing, NYSE American LLC, Bitwise and Grayscale are also seeking approval to trade options on ethereum-based ETFs. are seeking approval to trade options.
the SEC's cautious approach to ethereum-based ETFs comes after it approved options trading for bitcoin-based ETFs. Last week, BlackRock received approval to trade options on the iShares Bitcoin Trust (IBIT) fund.
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