Summary
The Securities and Exchange Commission (SEC) is seeking public comments on Nasdaq’s proposal to allow options trading on BlackRock’s spot bitcoin ETF. The comment period will last for 21 days. Bloomberg Intelligence ETF research analyst, James Seyffart, believes the SEC is moving quickly on the proposal and options could be approved before the end of February. BlackRock recently received approval from the SEC to list its spot bitcoin ETF, which has already attracted significant inflows. In addition to bitcoin, firms like BlackRock and Fidelity are also competing for approval to launch Ethereum ETFs. The SEC has delayed its decision on Fidelity’s proposal until March 5.
Key Points
1. The Securities and Exchange Commission (SEC) is seeking public comments on a proposal from Nasdaq to allow options trading on BlackRock’s spot bitcoin ETF. The comment period will last for 21 days.
2. The SEC is moving more quickly than usual on this proposal, indicating that options trading on the bitcoin ETF could be approved before the end of February if the SEC wants to expedite the process.
3. In addition to the bitcoin ETF, firms like BlackRock and Fidelity are also pursuing the creation of an Ethereum ETF. The SEC has delayed its decision on Fidelity’s proposal until March 5, citing a court ruling that questioned the SEC’s rejection of spot crypto ETFs while allowing futures-based products.