8 months ago
The U.S. Securities and Exchange Commission (SEC) connected Jan. 19 opened comments connected proposals related to options trading connected Bitcoin ETFs.
One SEC notice concerns a projected regularisation alteration allowing Nasdaq to database and commercialized options connected BlackRock’s iShares Bitcoin Trust.
A 2nd SEC announcement concerns a projected regularisation alteration that would let Cboe Exchange Inc. to database and commercialized options connected assorted Bitcoin exchange-traded products (ETPs). Though the text of the notice does not bespeak which funds the connection applies to, Cboe BZX is liable for listing and trading the bulk of spot Bitcoin ETFs approved this January, including those from Ark Invest, VanEck, WisdomTree, Invesco, Fidelity, GlobalX, and Franklin Templeton.
Options trading would present caller concern strategies for each fund. Specifically, this attack would let investors to prosecute successful leveraged trading, perchance earning greater returns astatine a higher risk.
SEC could determine connected support successful coming months
Bloomberg ETF expert James Seyffart commented connected the development, noting:
“The SEC has already acknowledged the 19b-4’s requesting the quality to commercialized options connected spot Bitcoin ETFs. This is faster than SEC typically moves. Options could beryllium approved earlier extremity of February if SEC wants to determination fast?”
Seyffart’s different statements bespeak the SEC could marque its a determination astir Feb. 15 astatine the earliest, oregon astir Sept. 21 astatine the latest.
Seyffart besides noted that each connection was posted connected Jan. 16, meaning that the SEC published its latest notices aft 3 days. He said the latest developments are “significantly faster” than different 19b-4 regularisation alteration proposals, which reached akin stages aft much than 14 days.
The substance of each document, however, indicates somewhat earlier filing dates for each proposal. Nasdaq (on behalf of BlackRock) filed its connection connected Jan. 9 and submitted an amendment connected Jan. 11. Cboe filed its connection connected Jan. 5.
The station SEC opens comments connected options trading for BlackRock, Cboe spot Bitcoin ETFs appeared archetypal connected CryptoSlate.
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