Key Points
- The SEC has postponed decision on Nasdaq ISE, LLC's application to list and trade options on BlackRock's spot Bitcoin ETF till April 24.
- Decisions on similar applications from Cboe Exchange, Inc. and Miax Pearl LLC have also been delayed to the same date.
The Securities and Exchange Commission (SEC) has deferred its decision on allowing Nasdaq ISE, LLC to list and trade options on BlackRock's spot Bitcoin exchange-traded fund (ETF). The decision, which was initially set to be made earlier, has now been pushed back to April 24.
The SEC stated that it required more time to evaluate the proposed rule change. The commission had previously solicited public comments on the ability of Nasdaq to facilitate options trading on BlackRock's spot Bitcoin ETF. This call for comments attracted five responses from individuals, all urging the SEC to approve the options trading.
Other Delays
In addition to the delay on the BlackRock application, decisions on similar applications from Cboe Exchange, Inc. and Miax Pearl LLC have also been postponed. The SEC announced that the deadlines for these decisions have been extended to April 24 as well.
Earlier this year, Cboe submitted a rule filing to the SEC. The exchange stated that its current rules generally allow it to list options on an ETP three days after the ETP shares begin trading on a national securities exchange. However, these rules do not apply to ETPs holding commodities such as Bitcoin.
