SEC Postpones Decision on Spot BTC ETF Options
Date: 2024-03-08 Author: Dima Zakharov Categories: IN WORLD
SEC Delays Spot Bitcoin ETF Options Decision
The U.S. Securities and Exchange Commission (SEC) has announced a postponement regarding its decision on spot Bitcoin exchange-traded fund (ETF) options. The regulatory body will now review the matter on April 24, potentially signaling significant implications for the cryptocurrency market's capital influx.
Extension of Evaluation Period
In a statement issued on March 6, the SEC extended the evaluation period for requests to launch options from CBOE and the Miami International Security Exchange. Additionally, the agency deferred its response to Nasdaq's application. Nasdaq proposed options on a BTC ETF from BlackRock, known as the iShares Bitcoin Trust (IBIT).
Application Timeline
All exchanges submitted their applications for options on January 25. Securities laws grant the regulator 45 days to review these applications, with the initial deadline set for March 10. However, the Commission stated that it required more time for thorough consideration. The law permits the agency an additional 45 days, with a final response expected by April 24.
Previous Advocacy for Approval
Last month, Grayscale advocated for the approval of these options, believing that the instrument would benefit the cryptocurrency market's health.
