Nasdaq and NYSE Withdraw Bitcoin ETF Options Proposals, But Interest Remains

The long-awaited path to Bitcoin ETFs Options on traditional exchanges has hit yet another roadblock. Nasdaq and the New York Stock Exchange (NYSE) have unexpectedly pulled their applications to list and trade options based on two prominent Bitcoin investment vehicles.

Nasdaq, NYSE Pause Bitcoin ETF Options Applications

Bitcoin ETF options on traditional exchanges hit another roadblock as Nasdaq and the New York Stock Exchange (NYSE) have unexpectedly pulled their applications.

The filings, dated August 14 and 15 respectively, were spotted by eagle-eyed crypto followers.

Nasdaq and NYSE had initially proposed rule changes to enable trading of options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin Trust. These proposals had been under review by the SEC since February and March, respectively.

The regulator extended its review periods in April and July, before these filings revealed the exchange's change of heart.

Both proposals had reached the final stages of the SEC approval process, with the regulator set to make a decision by September 14.

These moves come shortly after another major exchange, CBOE, withdrew its own application to trade Bitcoin ETF options earlier this month. However, unlike Nasdaq and NYSE, CBOE has already refiled with a revised proposal.

“NASDAQ & NYSE have joined CBOE in withdrawing their applications for allowing options to trade on the Bitcoin ETFs,” industry analyst James Seyffart wrote.

“I’m expecting them to re-file over the coming days or weeks like we saw from CBOE. ”

Nasdaq and NYSE are likely to follow suit in the coming weeks, Seyffart added.

While the exact reasons behind the withdrawals remain unclear, the SEC’s stringent regulatory environment for crypto-related products is likely a contributing factor.

Bitcoin ETF Interest Persists Despite Setbacks

These setbacks have not dampened investor interest in Bitcoin, with data from Farside Investors showing that Bitcoin ETF flows shifted to positive territory on Thursday.

This came after the investment vehicle experienced net outflows the previous day. Outflows from the Grayscale Bitcoin Trust slowed to $25 million, while its Bitcoin Mini Trust attracted $13.7 million in inflows.

The news comes as the total value locked in Bitcoin ETFs reached a record high of $18.3 billion in August, driven by strong demand and the launch of new products.

Despite these encouraging signs,濤Bitcoin ETFs still only account for a small fraction of the overall cryptocurrency market capitalization, which stood at around $1.03 trillion at the time of writing.

Still, these ETFs offer a convenient and regulated way to gain exposure to Bitcoin, and their growth is expected to continue as more investors and institutions enter the crypto space.

The above is the detailed content of Nasdaq and NYSE Withdraw Bitcoin ETF Options Proposals, But Interest Remains. For more information, please follow other related articles on the PHP Chinese website!