SEC Prolongs Review Period for Grayscale and Bitwise's Bitcoin ETF Options Applications

The U.S. Securities and Exchange Commission (SEC) SEC has extended the deliberation period for examining asset management firms' potential Bitcoin exchange-traded fund (ETF) options on the NYSE. Grayscale and Bitwise Options are derivatives that allow traders to leverage their positions and make directional plays in the market.

The regulatory authority declared that it needs more time to decide whether to approve, reject, or initiate proceedings for these applications. The Commission believes a more extended period will allow for a comprehensive evaluation of the proposed rule changes.

The SEC has set the new deadline for reviewing the proposed rule changes submitted by the NYSE for May 29.

Grayscale's CEO Calls on SEC to Greenlight Options Trading for Spot Bitcoin ETFs

The NYSE filed a 19b-4 application with the SEC earlier this year to propose options trading on

's Bitcoin ETFs shortly after the SEC's significant approval of multiple spot Bitcoin ETFs allowing their listing on U.S. exchanges. Bitcoin ETF Recently, Michael Sonnenshein, Grayscale's CEO, urged the SEC to move forward with this rule change, pointing out there is no valid reason to deny options trading for spot Bitcoin ETFs, especially since the SEC has already greenlit both spot Bitcoin ETFs and Bitcoin futures ETFs. He highlighted that given these approvals, it should be a straightforward process to allow trading options on spot Bitcoin exchange-traded products (ETPs).

Approving these applications could potentially invigorate the market and bolster the overall ecosystem by providing additional avenues for trading in spot Bitcoin ETFs.

In conjunction with these applications, earlier this month, the SEC postponed BlackRock's Bitcoin ETF options trading application, impacting its previously submitted request for approval to enable options listing and trading for its Bitcoin ETF. Additionally, Nasdaq had put forth a proposal back in January.

In addition to the rejections of Grayscale and Bitwise Securities and Exchange Commission Nasdaq Please be aware that the content on this page is not intended as legal, investment, financial, or any other form of advice. It is crucial only to invest what you can afford to lose and to seek independent financial counsel if you are uncertain. For more information, we recommend reviewing the issuer's or advertiser's terms and conditions as well as their help and support resources. MetaversePost is dedicated to providing accurate and impartial reporting; however, market conditions can change without warning.