The U.S. Securities and Exchange Commission (SEC) is postponing its decision on approving Ethereum (ETH) spot market exchange-traded fund (ETF) options.
In a new filing, the regulator said it will delay its decision as a means to allow more public input and expert analysis on whether the change would comply with current securities laws, although no specific date was provided.
“The Commission is initiating a proceeding to enable additional analysis of the consistency of the proposed rule change [the law]for what…
That the rules of a national securities exchange are designed to prevent fraudulent and manipulative acts and practices, to promote fair and equitable principles of trade, to remove and protect barriers to a free and open market and national market system, and, in the generally, to protect investors and the public interest.”
In October, the SEC greenlit Bitcoin (BTC) options ETFs for the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE). At the time, the SEC said they were approved because the regulator had recently approved Nasdaq to list options on the iShares Bitcoin Trust (IBIT), which produced positive results.
Jeff Park, director of Bitwise, said “things are probably going to get wild” after the SEC approved options on BlackRock’s Bitcoin ETF.
“In summary, the Bitcoin ETF options market is the first time the financial world has seen regulated leverage on a perpetual commodity whose supply is truly limited. It’s probably going to be wild. In such scenarios, regulated markets may be closed.
But the remarkable thing about Bitcoin is that there will always be a parallel, decentralized market that cannot be shut down, unlike GME – which, as you can imagine, will add even more fuel to the fire.
It’s going to be incredibly fantastic.”
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Generated image: Midjourney
