A story in The Block by Sarah Wynn says that Nasdaq ISE, LLC has officially dropped its plans to sell and trade options on spot Bitcoin and Ethereum exchange-traded funds (ETFs).
In order to enable the exchange to list and trade options on units that represent interests in a trust that holds Bitcoin and one that holds Ether, Nasdaq ISE submitted two proposed rule modifications to the SEC to amend Options 4, Section 3(h). On August 12, the Federal Register published both Proposals for public comment.
The Block’s report continued to assert that Nasdaq’s action is consistent with a more extensive trend observed among other exchanges over the past week. Additionally, BOX Exchange, MIAX Pearl, and MIAX have all decided not to offer or trade options on spot Bitcoin ETFs. Last week, Cboe made a comparable decision by withdrawing its application to list options on spot Bitcoin ETFs. Nevertheless, Cboe subsequently resubmitted the application, indicating that it may be in the midst of ongoing discussions with the SEC. The SEC has not yet authorized the trading of options on spot Bitcoin or Ethereum ETFs.
Additionally, The Block reported that NYSE American LLC withdrew its proposal to list and trade options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF on Thursday.
Bloomberg Intelligence Analyst James Seyffart expressed his opinion on the matter, suggesting that Nasdaq and NYSE may shortly submit revised proposals. He made reference to Cboe’s moves as a possible example, implying that the exchanges are still thinking about these listings and could be talking to the SEC about it. In a post on X, Seyffart stated, “I anticipate that they will re-file in the future days or weeks, as we observed with Cboe.”
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