The SEC has announced a postponement of its ruling on NYSE’s plan to list and trade options on various Ethereum ETFs, including the Bitwise Ethereum ETF and Grayscale Ethereum Trust.
This proposed change was submitted by NYSE on July 23, 2024. It seeks to allow options trading on the Bitwise Ethereum ETF, Grayscale Ethereum Trust, Grayscale Ethereum Mini Trust, and other trusts that hold ether.
The aim is to offer investors the opportunity to track Ethereum’s price movements through options, similar to existing commodity-based ETFs.
The reason for the SEC’s delay is that it is currently examining whether the proposal aligns with the Exchange Act’s requirements in terms of preventing fraudulent practices, promoting fair trade, and safeguarding investor interests.
The SEC has initiated a review process to delve deeper into the proposal. In the filing, the public is encouraged to submit comments within 21 days and counter comments within 35 days. This extends the timeline, but a specific date for a final decision has not been set.
