The SEC Seeks Public Comments on Nasdaq’s Proposal for Bitcoin ETF Options Trading
The Securities and Exchange Commission (SEC) is inviting public comments on a proposal from Nasdaq that would allow options trading on BlackRock’s spot bitcoin ETF. The comment period will last for 21 days, according to an SEC filing. The proposal aims to amend the criteria for underlying securities, allowing the exchange to list and trade options on the iShares Bitcoin Trust. Bloomberg Intelligence ETF research analyst James Seyffart noted that the SEC is moving faster than usual on this proposal. BlackRock, having recently received approval to list its spot bitcoin ETF, saw significant inflows of $145.5 million in one day.
Firms Compete for Ethereum ETF Spot
BlackRock and Fidelity are both competing for a spot Ethereum ETF. The SEC has delayed its decision on Fidelity’s proposal until March 5. Fidelity applied for the Fidelity Ethereum Fund in November, highlighting a court ruling that criticized the SEC’s inconsistent approach to rejecting spot crypto ETFs while allowing futures-based products.
Hot Take: Increased Interest in Crypto ETFs
The SEC’s consideration of options trading on a bitcoin ETF and the competition for an Ethereum ETF spot indicate growing interest in cryptocurrency exchange-traded funds. These developments suggest a potential shift towards mainstream acceptance of digital assets within traditional financial markets. With major players like BlackRock and Fidelity actively pursuing crypto ETFs, it signals a significant milestone in the maturation of the crypto industry and could potentially attract more institutional investors to participate in the market.
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