BlackRock seeks to launch options on Ethereum ETFs. What does this mean for the market?
The post BlackRock seeks to launch options on Ethereum ETFs. What does this mean for the market? appeared on BitcoinEthereumNews.com.
Nasdaq and BlackRock, the world’s largest asset manager, are planning to start trading options on the spot Ethereum ETF. According to a filing posted on the U.S. Securities and Exchange Commission’s website, representatives of Nasdaq and BlackRock asked the regulator to allow trading options on the iShares Ethereum Trust ETF (ETHA), the only Ethereum-based ETF listed on the Nasdaq exchange. The published document proposes changing the rules for listing and trading options on the iShares Ethereum Trust. The exchange offers to expand the list of ETFs suitable for trading on the exchange in accordance with options by including the Trust. Trust’s ETH becomes subject to the Ethereum proof-of-stake validation or is used to earn additional ETH or generate income or other earnings. Comments on the Nasdaq and BlackRock proposal are accepted within 21 business days. Meanwhile, Bloomberg Intelligence analyst James Seyffart believes that the final decision on this application will not be made before April 2025. Nasdaq and BlackRock’s filing to add options on Ethereum ETFs has hit the SEC site. Final SEC decision on this from SEC likely to be around April 9th, 2025. (SEC is not the only decision maker on adding options here. Also need signoff from OCC & CFTC) https://t.co/K4HunUPp7S pic.twitter.com/5kQH0mljTz — James Seyffart (@JSeyff) August 6, 2024 The expert explained that BlackRock needs approval from the SEC, the Commodity Futures Trading Commission, and the Options Clearing Corporation to trade options on the spot Ethereum (ETH) ETF. At the same time, Nasdaq is still waiting for approval to trade options on spot Bitcoin (BTC) ETFs. In July, the SEC said it needed more time to decide on this class of products. How does spot Ethereum ETF options trading work? Options are contracts that allow the option buyer to buy or sell the underlying asset at a specified time and…
Filed under: News - @ August 10, 2024 7:22 am