As a seasoned crypto investor with over two decades of experience navigating the volatile and ever-evolving world of digital assets, I find myself cautiously optimistic about the latest developments surrounding Bitcoin ETF options. Having weathered numerous market fluctuations and regulatory uncertainties, I’ve learned to read between the lines when it comes to SEC decisions.
As a crypto investor, I’ve noticed an intriguing development regarding Bitcoin ETFs. On August 8th, Cboe Global Markets initially withdrew, then resubmitted its application to list options on spot Bitcoin exchange-traded funds (ETFs). This double move has reignited the focus on the Securities and Exchange Commission’s (SEC) role in Bitcoin ETF options.
According to Bloomberg Intelligence analyst James Seyffart, it’s anticipated that traders could have access to options tied to Bitcoin ETFs by the end of this year’s fourth quarter.
As a seasoned investor with years of experience under my belt, I firmly believe we could see Bitcoin Exchange-Traded Fund (ETF) options come to fruition by the end of this year. The Securities and Exchange Commission (SEC) has set a deadline for their decision on this matter, which falls around September 21st. However, it’s important to remember that there are still additional steps required from the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC).
— James Seyffart (@JSeyff) August 8, 2024
According to Seyffart, the Securities and Exchange Commission (SEC) must make its final decision by September 21st. However, it’s important to note that additional approvals are required from both the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC) before any decisions can be fully implemented.
Subsequently, the Miami International Securities Exchange (MIAX PEARL), along with BOX Exchange, decided against pursuing approval for trading options tied to Bitcoin spot ETFs. According to Seyffart, these exchanges are considered smaller entities in comparison to giants like Nasdaq and NYSE, who continue to keep their applications active.
In spite of the recent withdrawals, Seyffart along with analyst Eric Balchunas continue to be hopeful that larger trading platforms may approve them by the end of the current year.
Cboe’s updated application now spans 44 pages, a significant increase from its initial 15, as it responds to regulatory comments concerning matters such as position limits and market manipulation. In the revised submission, they suggest enabling options trading for Exchange-Traded Funds (ETFs) managed by notable firms like Fidelity, Ark Invest, and BlackRock.
Balchunas proposes that a thorough resubmission of documents to the SEC suggests an active and cooperative relationship, but this could also push the decision deadline back to as late as April 2025.
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2024-08-10 16:36