US Congressmen Push for Options Trading on Spot Bitcoin ETFs
A pair of bipartisan US congressmen are reportedly asking the U.S. Securities and Exchange Commission (SEC) to greenlight options trading on spot Bitcoin (BTC) exchange-traded funds (ETFs). Representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) say that approving options trading on Bitcoin ETFs is crucial for investors.
Congressmen’s Call for Approval
- Rep. Flood and Rep. Nickel sent a letter to SEC chair Gary Gensler urging the approval of options on spot Bitcoin ETPs.
- They emphasize that this move is essential for investor protection and market development.
The Push for Options Trading
- Exchanges like Cboe, BOX, MIAX, and Nasdaq ISE have applied to offer options trading on new Bitcoin ETFs.
- Options trading on Bitcoin funds is currently pending SEC action, with public comments being solicited for rule changes.
Investors Await SEC’s Decision on Bitcoin Options Trading
The U.S. Securities and Exchange Commission (SEC) is under pressure to approve options trading on spot Bitcoin exchange-traded funds (ETFs), as urged by two bipartisan congressmen. The push for options trading on Bitcoin ETFs is seen as crucial for investor protection and market growth.
Exchanges’ Applications for Options Trading
- Various exchanges have submitted proposals to the SEC to allow options trading on Bitcoin ETFs.
- Cboe, BOX, MIAX, Nasdaq ISE, and NYSE American are among the exchanges seeking SEC approval.
SEC’s Current Stance
- The SEC has yet to act on these proposals, opting to seek public feedback on rule changes.
- The agency emphasizes the need for rule changes that prioritize investor protection and public interest.
SEC Seeks Public Input on Bitcoin Options Trading
The Securities and Exchange Commission (SEC) is currently inviting public comments on proposed rule changes that would enable options trading on Bitcoin exchange-traded funds (ETFs). The SEC’s move to seek feedback aligns with its commitment to ensuring investor protection and market integrity.
Public Comments Encouraged
- The SEC is seeking written opinions from interested parties on the compatibility of proposed rule changes with existing securities laws.
- The agency’s goal is to uphold the provisions of the Securities Exchange Act while promoting a fair and transparent market environment.
Final Thoughts on Options Trading for Bitcoin ETFs
With bipartisan support from US congressmen, the push for options trading on spot Bitcoin exchange-traded funds (ETFs) has gained momentum. Investors eagerly await the Securities and Exchange Commission’s (SEC) decision on approving options trading on Bitcoin ETFs as a critical step towards market development and investor protection.
Stay Informed
- Keep an eye on the SEC’s response to the congressmen’s request for options trading on Bitcoin ETFs.
- Follow regulatory developments closely to gauge the potential impact on cryptocurrency markets.
Source: Axios
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