Bloomberg analyst James Seyffart told his audience in an X post that something big is going to happen in the development of Bitcoin ETF options.
He highlighted Cboe Global Markets, which withdrew its application for options on BTC ETF which felt confusing to the investors, but in the meantime, the firm placed an updated application.
In the follow-up post, he noted three other exchanges, Miami International Securities Exchange, BOX Exchange, and MIAX Pearl who willingly withdrew their application to list spot Bitcoin ETF options.
In his view, the important filings are those from the exchanges that list ETFs – Nasdaq, CBOE, and NYSE.
Another Bloomberg analyst Eric Balchunas noted that only small exchanges withdrew the application, however, big giants like Chicago Board Options Exchange, Nasdaq, and NYSE applications are still active.
Spot BTC ETFs expected to gain options feature in Q4
According to James Seyffar only in the United States, the spot Bitcoin ETF, option feature can be added in the fourth quarter of the year. Seyffart pointed out that the offering could begin as early as the third quarter, with the final decision from the US Security and Exchange Commission expected around September 21.
He also stated that the approval must be taken from the Commodity Futures Trading Commission (CFTC), and Office of the Comptroller of the Currency (OCC). the senior analyst also highlighted other 20 ETFs including Bitcoin and Ethereum which already have options, including leveraged products.
Balchunas also discussed the big changes in Bitcoin Options applications. He mentioned that the SEC’s comments were positive for ETF approval chances, and the latest update also looks promising.
Spot Ethereum ETFs options
On Aug. 7, two other exchanges, Nasdaq and BlackRock submitted a filing to include the iShares Ethereum Trust (ETHA) in BlackRock’s spot Ethereum ETF. The SEC has 21 days to respond on filing, but the final decision will likely be made by around April 9, 2025, according to Seyffart.
In the lawsuit, Nasdaq also pointed out other ETFs with listed options on its platform like iShares Silver Trust, and BlackRock’s iShares COMEX Gold Trust.
ETF store president Nate Geraci pointed out on August 9, that there are already options available for some crypto derivatives ETPs, so it made sense to offer them on spot ETFs.
