The U.S. SEC has launched another round of consultations on proposed rule changes regarding trading options on Bitcoin exchange-traded products.
The Securities and Exchange Commission is evaluating whether exchanges’ current surveillance and enforcement mechanisms can handle Bitcoin exchange-traded products .
The United States Securities and Exchange Commission has launched another round of consultations on a proposed rule change for trading options on Bitcoin exchange-traded products .) options could affect the overall market, especially during times of stress. Part of the review will assess whether the exchanges’ current surveillance and enforcement mechanisms are adequate to handle the unique aspects of Bitcoin options.
Initial comments must be submitted within 21 days after the document is officially registered, which would make the final deadline May 15, 2024. Likewise, rebuttal comments may be submitted up to May 29, 2024.Bitcoin options are financial instruments that give the buyer the right, but not the obligation, to buy or sell Bitcoin at a specified price by a certain date. Options are typically used by traders familiar with option pricing and market movements.
“In addition, the commenter stated that approving the listing and trading of options on spot Bitcoin ETPs “would further bring Bitcoin into the regulatory perimeter by allowing additional regulated market participants such as CFTC-regulated designated contract merchants and SEC-regulated broker-dealers to trade the products.” “seeking permission to trade Bitcoin options.
Additionally, asset managers like Bitwise and Grayscale are also seeking regulatory approval to list options on their Bitcoin ETFs through New York Stock Exchange applications.
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