30s Summary
US regulators are reviewing a filing to allow Ether options trading on NYSE American’s exchange. This move indicates the SEC’s openness towards cryptocurrency products, boosted further by Donald Trump’s recent election win. The approval would greenlight options trading on Bitwise Ethereum ETF, Grayscale Ethereum Trust, and other Ether-based trusts. The SEC had previously approved options trading on 11 Bitcoin ETFs for NYSE American, Nasdaq, and Cboe Exchange. Meanwhile, spot Bitcoin options signal a large leap for the crypto world, providing new investment opportunities. However, exchanges must secure approval from two additional groups before trading can commence.
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US regulators are taking a look at a request to allow Ether options to be traded on NYSE American’s exchange, as per a filing back in November.
If this goes through, NYSE will get the green light to trade options on Bitwise Ethereum ETF, Grayscale Ethereum Trust, Grayscale Ethereum Mini Trust, and any other trust based on Ether.
This move by the SEC shows that it’s becoming more open to the idea of cryptocurrency products. Donald Trump’s recent win on the Nov. 5 presidential election has also helped create a friendlier environment for crypto.
In September and October, the SEC gave the okay for NYSE American, Nasdaq, and Cboe Exchange to trade options on 11 Bitcoin ETFs, which included those from Bitwise and Grayscale.
The same trio of exchanges had previously, in August, asked the SEC if they could list Ether ETF options.
Getting spot Bitcoin options on US regulated exchanges is a big step for the cryptocurrency world. Jeff Park, Bigwise Invest’ head of alpha strategies, said it’s creating some really exciting chances for investors.
Before they can start trading, though, these exchanges need to get the all-clear from two other groups – the Commodity Futures Trading Commission and the Options Clearing Corporation.
A decision, originally expected on Oct. 19, has been postponed to Dec. 3.
Basically, options are contracts that give the holder the right to buy or sell – “call” or “put” – something at a certain price.
Trump’s presidential win has also paved the way for various crypto ETFs that have been waiting for regulatory approval to be listed in the US.
In 2024, lots of requests were submitted to list ETFs that hold different altcoins, including Solana, XRP, and Litecoin. There are also plans for crypto index ETFs that hold a range of different tokens.
As of Nov. 4, the SEC has started looking at Grayscale’s request to list the first ETF that would hold a variety of cryptocurrencies, including numerous altcoins.