SEC delays decision on Cboe Ethereum ETF options until December Bitcoin ETFs Rise, Ethereum Funds See Negative Flows
SEC Announced Friday is extending its review of the Cboe's proposal to allow options trading on Ethereum-based exchange-traded funds (ETFs).
A decision was originally due by October 19, but the deadline has now been pushed to December 3 to allow additional time for evaluation.
Cboe's proposal, filed in August, would allow options trading on Ethereum ETFs from major firms such as Fidelity, Invesco, Grayscale and others.
The move comes on the heels of the SEC's approval of eight Ethereum ETFs in May 2024, after giving the green light to 11 Bitcoin ETFs in January.
Ethereum ETFs represent a regulatory milestone, yet they have underperformed Bitcoin ETFs. negative currents $546 million since launch.
In contrast, Bitcoin ETFs generated over $12 billion in inflows in their first quarter.
The delay comes just weeks after the SEC approved options trading on BlackRock's iShares Bitcoin Trust (IBIT) on the Nasdaq.
Unlike holding shares, options allow traders to leverage positions, appealing to those seeking expanded exposure with less capital.
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Bloomberg Intelligence analyst James Seyfart Estimates Bitcoin ETF options could begin trading before the end of the year, “but more likely in Q1 2025.”
Crypto market movers
Bitcoin is up 3.4% to around $62,700 in the last 24 hours. Ethereum rose 1.8% to $2,444.
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Related TopicsBitcoinEtetheriumETFSecurities and Exchange Commission (SEC)
