The U.S. Securities and Exchange Commission (SEC) has decided to delay its decision on whether to allow the New York Stock Exchange (NYSE) to introduce options trading for Bitcoin exchange-traded funds (ETFs). This announcement was made in a document published on the SEC’s official website on April 8. The delay affects options trading on the Bitwise Bitcoin ETF (BITB), the Grayscale Bitcoin Trust (GBTC), and any other trust holding Bitcoin listed on the NYSE. The SEC received two comments during the proposed rule change comment period, which is required by existing regulations. The SEC must make a decision within 45 days or extend the deadline up to 90 days. In this case, the SEC has chosen to extend the decision-making period by 45 days, with the new deadline set for May 29. The SEC states that this extension is necessary to ensure careful consideration of the proposal. Grayscale’s CEO, Michael Sonnenshein, is one of two individuals who wrote to the SEC in support of the rule change. Sonnenshein argues that since the SEC has already approved Bitcoin futures ETFs and spot Bitcoin ETFs on the NYSE, there should be no reason to reject options trading for spot Bitcoin ETFs. However, the final decision on this matter is still pending.
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NYSE Options Trading for Bitcoin ETFs Put on Hold by SEC
