NYSE Withdraws Application to List Options on Bitcoin ETFs
Commentary by Steven Lofchie and Rachael Hashmall
The New York Stock Exchange withdrew its application to list and trade options based on the Bitwise Bitcoin ETF and the Grayscale Bitcoin Trust.
The SEC had extended its review period after publishing the NYSE proposal for public comment in February 2024 and requested further comment in April 2024. (See related coverage.)
The proposal was withdrawn by the NYSE before the SEC acted on the proposal.
Commentary
Was it something the SEC said?
Commentary
Some in the industry attribute the decision to withdraw the application to heightened regulatory scrutiny and the SEC's reluctance to approve these new products. Others, however, remain optimistic and see this as continued momentum. They believe both the NYSE and Nasdaq (who also withdrew their application) will re-file updated applications in the next few days or weeks. In a similar move, CBOE withdrew its application but has now resubmitted a more detailed proposal.
Related Articles
-
The SEC approved nine spot Ethereum exchange-traded funds, allowing them to begin trading on Tuesday, July 23rd.
-
The SEC approved applications from CBOE, Nasdaq and NYSE to list exchange-traded funds tied to the price of ether.
-
The SEC requested comment on a proposed rule change by the Nasdaq Stock Market that would allow the listing of exchange-traded funds based on Ethereum.
-
The SEC approved the listing and trading of spot bitcoin exchange-traded product shares "on an accelerated basis."