SEC pushes back timeline on BlackRock's spot bitcoin ETF options trading application

The Securities and Exchange Commission is delaying a decision on whether to allow Nasdaq ISE, LLC to list and trade options on BlackRock's spot bitcoin exchange-traded fund until next month. 

The SEC said it was extending the time period to make a decision on whether to "either approve or disapprove, or institute proceedings"  until April 24, according to a filing made on Thursday. 

"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change," the SEC said.

The SEC had previously asked for comments from the public on whether Nasdaq would be able to allow for options trading on BlackRock's spot bitcoin ETF. That had garnered five comments from individuals who said they wanted the SEC to approve the options trading. 

Other delays

The SEC also delayed making a decision on whether it should allow Cboe Exchange, Inc. and Miax Pearl LLC to list and trade options on spot bitcoin ETFs, according to Thursday filings. The SEC said the next deadlines for those would also be April 24. 

Cboe submitted an SEC rule filing earlier this year. 

"Cboe Options’ current rules generally permit it to list options on an ETP three days after shares of the ETP begin trading on a national securities exchange," Cboe said in a statement. "However, those rules do not apply to ETPs holding commodities such as Bitcoin."