SEC Delays Decision on Spot ETH-ETF Options

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Nasdaq’s proposal to list options based on spot Ethereum-ETFs from BlackRock and Bitwise.

The agency extended the review period until November 10.

“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 application,” the statement said.

The regulator has taken a similar step regarding the proposal by the New York Stock Exchange to open trading of options on Ethereum funds from Bitwise and Grayscale. The SEC will revisit this matter by November 11.

Meanwhile, on September 21, the Commission expedited a positive decision regarding the listing of options on a spot Bitcoin-ETF managed by BlackRock.

However, Bloomberg analyst Eric Balchunas noted that SEC approval is merely the initial stage for products entering the exchange. Further approval from other agencies such as the OCC and the CFTC will be required.

In January, the SEC approved 11 applications for the launch of spot Bitcoin exchange-traded funds. Trading of similar instruments based on Ethereum began in late July.