Bloomberg analyst James Seyffart has indicated that the U.S. Securities and Exchange Commission (SEC) might permit trading of options on spot Bitcoin ETFs in the latter half of February.
Absolute latest we get a decision is somewhere around ~Sept 21, 2024.
— James Seyffart (@JSeyff) January 19, 2024
“The SEC has already acknowledged the 19b-4 filings for the possibility of trading options on spot Bitcoin ETFs. This is faster than the SEC usually progresses. Could options be approved by the end of February if the SEC wants to move faster?” he wrote.
According to the specialist, the approval of these instruments could occur no earlier than February 15 and no later than September 21, 2024.
On January 10, the SEC approved all 11 applications for spot Bitcoin ETFs. In the first four days, their combined trading volume exceeded $11 billion.
The crypto community has speculated about potential exchange-traded funds based on the spot price of Ethereum, but analysts doubted the imminent approval of such instruments.
Earlier, Grayscale CEO Michael Sonnenshein predicted the collapse of most Bitcoin ETFs. In his view, only “two or three exchange-traded funds might achieve some critical mass.”