Congressmen Urge SEC for Options Trading on Bitcoin ETFs
A bipartisan duo of U.S. congressmen is reportedly urging the U.S. Securities and Exchange Commission (SEC) to approve options trading on spot Bitcoin exchange-traded funds (ETFs).
Representatives Mike Flood and Wiley Nickel have penned a letter to SEC chair Gary Gensler, emphasizing the importance of greenlighting options trading on Bitcoin ETFs to safeguard investors’ interests.
In the letter obtained by Axios, Flood and Nickel assert,
“We urge you, without delay, to approve options on spot Bitcoin ETPs or to provide an explanation for the Commission’s difference in treatment between options for Bitcoin futures ETFs—which are currently trading—and options for the spot Bitcoin ETPs (exchange-traded products).”
Multiple exchanges, including Cboe, BOX, MIAX, Nasdaq ISE, and NYSE American, have submitted proposals to the SEC seeking approval for options trading on the newly introduced Bitcoin ETFs.
READ MORE: US Lawmakers Call on Biden Administration for Crypto Oversight Amid Sanction Evasion Concerns
However, the SEC has yet to take action on these proposals and is presently seeking public feedback on rule changes that would enable options trading on Bitcoin funds.
In a notice dated April 24, the SEC stated, “[T]he Commission invites the written views of interested persons concerning whether the proposed rule changes are consistent with Section 6(b)(5), or any other provision of the Act, or the rules and regulations thereunder.”
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
