Bitcoin ETF

Bitcoin

James

On Aug 8, Cboe Global Markets withdrew and then re-submitted its application to list options on spot Bitcoin exchange-traded funds (ETFs). This action has renewed interest in the Securities and Exchange Commission’s (SEC) involvement in Bitcoin ETF options.
Bloomberg Intelligence analyst James Seyffart predicted that options on spot Bitcoin ETFs might become available in the fourth quarter of this year.&nbsp;
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 We think the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF options happen in 4th quarter this year. Final deadline for SEC decision is ~Sept. 21 but there's more steps needed after that from OCC &amp; CFTC. Here are some BTC &amp; ETH related ETFs including leveraged that already have options. cc <a href="https://twitter.com/EricBalchunas?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@EricBalchunas</a> <a href="https://t.co/xErD5oPiWb" target="_blank" rel="noopener noreferrer nofollow">https://t.co/xErD5oPiWb</a> <a href="https://t.co/USauv6QaFs" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/USauv6QaFs</a>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1821627790065799634?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 8, 2024</a>
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Seyffart noted that the SEC’s final deadline for a decision is September 21, but added that further approvals from the Options Clearing Corporation (OCC) and Commodity Futures Trading Commission (CFTC) would be needed.
Following this, the Miami International Securities Exchange, MIAX PEARL, and BOX Exchange <a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?sro_organization=All&amp;field_display_title_value=&amp;release_number=&amp;file_number=&amp;year=All&amp;month=All" target="_blank" rel="noopener noreferrer nofollow">withdrew their applications</a> to list options on spot Bitcoin ETFs. Seyffart characterized these exchanges as smaller players compared to Nasdaq and NYSE, which still have active applications.&nbsp;
Despite the withdrawals, Seyffart and fellow analyst Eric Balchunas remain optimistic about the potential for approval from the larger exchanges later this year.
Cboe’s <a href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CBOE-2024-035.pdf" target="_blank" rel="noopener noreferrer nofollow">new application</a>, which has expanded from the <a href="https://www.sec.gov/files/rules/sro/cboe/2024/34-99395.pdf" target="_blank" rel="noopener noreferrer nofollow">original 15 pages</a> to 44 pages, addresses regulatory feedback on issues like position limits and market manipulation. The revised filing proposes allowing options trading on ETFs managed by major firms including Fidelity, Ark Invest, and BlackRock.
Balchunas suggests that the detailed re-filing indicates positive engagement with the SEC, although it may extend the decision timeline to late April 2025.&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/08/08/new-proposal-for-tax-free-bitcoin-economic-zone-in-the-us/" rel="noopener noreferrer nofollow">New Proposal for Tax-Free Bitcoin Economic Zone in the US</a>
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Cboe Re-Files Bitcoin ETF Options Application

The Crypto Times

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