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Nasdaq and Cboe seek SEC approval for Bitcoin ETF options trading

EditorNatashya Angelica
Published 01/22/2024, 03:12 AM
Updated 01/22/2024, 03:12 AM
© Reuters.

NEW YORK - The U.S. Securities and Exchange Commission (SEC) is currently reviewing applications from two major exchange operators, Nasdaq and Cboe Global Markets (NYSE:CBOE), to introduce options trading for Bitcoin-related exchange-traded funds (ETFs).

Nasdaq has submitted a proposal to list options for BlackRock (NYSE:BLK)'s Bitcoin trust, IBIT. Meanwhile, Cboe Global Markets is aiming to launch options on various Bitcoin-related exchange-traded products. The move by both exchanges indicates a growing interest in providing traditional investors with regulated avenues for gaining exposure to the cryptocurrency market.

As the review process is underway, market analysts are anticipating that the SEC could grant approval for these new offerings as early as late February. However, they also caution that the decision may be pushed back as far as September 21, depending on the regulatory body's assessment.

The SEC has set a public comment period of 21 days for stakeholders and members of the public to provide their input on the proposed Bitcoin ETF options. This period is a standard regulatory procedure allowing for transparency and public participation in the decision-making process.

The outcome of the SEC's review is eagerly awaited by investors and the cryptocurrency community, as it could potentially open up new opportunities for investment and broaden the acceptance of cryptocurrencies in the financial markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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