NYSE American LLC withdraws proposal to list and trade options on spot Bitcoin ETFs
Quick Take
- NYSE American LLC previously proposed a rule change to be able to list those options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF.
- Exchange Cboe also withdrew its application to list options on spot Bitcoin ETFs last week but then re-filed it, which could signal that the SEC is potentially engaging in the process.
NYSE American LLC withdrew its proposal to list and trade options on two spot bitcoin exchange-traded funds, according to a filing posted on Thursday.
The exchange previously proposed a rule change to allow the listing of those options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF.
"On July 19, 2024, the Commission designated a longer time for Commission action on the Proposal. On August 9, 2024, the Exchange withdrew the Proposal," the filing read.
NYSE declined to comment.
This comes a week after other exchanges, including MIAX, MIAX Pearl and BOX Exchange, withdrew similar proposals. Cboe also withdrew its application to list options on spot bitcoin ETFs last week but then re-filed it, which could signal that the SEC is potentially engaging in the process.
The SEC approved several spot Bitcoin ETFs in January, including from firms such as BlackRock, Grayscale, and Fidelity. Other exchanges are also considering allowing options trading but have not yet received the SEC's approval.
NYSE American has also proposed a rule change to list and trade options on Bitwise’s and Grayscale’s spot Ethereum ETFs.
Update: Aug. 15, 6:55 p.m. UTC to include that NYSE declined to comment
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