The SEC has postponed its ruling on NYSE’s proposed Bitcoin ETF, causing a surprise delay. This decision may negatively impact businesses offering Bitcoin trading options, potentially hindering their ability to trade on widely used Bitcoin investment vehicles such as the Bitwise Bitcoin ETF and Grayscale Bitcoin Trust.
The SEC has announced that it will carefully review the justification behind the proposed rule modification, leading to its April 8th decision. This assessment, due for completion by May 29th, effectively determines whether options trading on Bitcoin ETFs on the NYSE will be approved or denied.
Trading options for Bitcoin provides advanced techniques for investors, enabling them to make predictions about future prices through tools like leverage and speculation. By acquiring call options, traders can wager on potential price increases or decreases, expanding their investment choices.
Michael Sonnenshein, CEO of Grayscale, is a strong advocate for allowing the trading of options on spot Bitcoin Exchange-Traded Funds (ETFs). He argues that this move will increase market liquidity and promote overall market prosperity. However, despite the Commodity Futures Trading Commission (CFTC) approving and listing Bitcoin futures ETFs on the New York Stock Exchange, the issue of options-trading ETFs remains unresolved.
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2024-04-09 03:32