The post Bitcoin ETF Options in US Hit A Setback as NYSE Aborts Options Plan appeared on BitcoinEthereumNews.com.

NYSE American LLC has formally announced its withdrawal of the proposal to list and trade options on two spot Bitcoin exchange-traded funds (ETFs). The proposal, which sought to have the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF listed, was initially filed with the United States Securities and Exchange Commission (SEC). NYSE American Ends Plans to List Bitcoin ETF Options NYSE American LLC has pulled back its proposal to list and trade options on two spot Bitcoin ETFs. The proposal to the SEC sought approval to offer options trading for the Bitwise and Grayscale BTC ETFs. The withdrawal of the proposal was formalized on August 9, 2024, and disclosed to the public through an SEC filing on August 15, 2024. However, NYSE American is not the only one pulling out. Cboe and other exchanges such as MIAX Pearl and BOX Exchange have also recently pulled their applications to list options on spot Bitcoin ETFs.  Despite this, Cboe resubmitted the application after it had withdrawn it, a move that some believe indicates an ongoing conversation with the SEC. Regulatory Uncertainty Surrounds ETF Options The withdrawal of NYSE American LLC from its proposal is in line with the increased lack of clarity in the US market regarding BTC ETFs.  Even though the SEC had earlier in the year approved several spot BTC ETFs from firms such as BlackRock, Grayscale, and Fidelity, the approval of options trading for these ETFs has been delayed. Consequently, exchanges have remained sending in proposals, only to withdraw them, pointing towards possible regulatory issues. Furthermore, the length of the SEC’s review periods and its delayed decision-making have also played a part in the Bitcoin ETF options’ ambiguity. Broader Implications for the Crypto Market The withdrawal of the NYSE American’s proposal and similar actions by other exchanges may have…

---

Filed under: News - @ August 16, 2024 2:28 am