SEC greenlights CBOE, NYSE bids for spot bitcoin ETF options

The US Securities and Exchange Commission approved NYSE and CBOE’s bids to list options for bitcoin exchange-traded funds.

In two statements, the SEC granted approval to the proposed rule changes, clearing the way for options. The proposed options are tied to bitcoin ETFs provided by Fidelity, Grayscale, VanEck and others.

Both proposed rule changes were granted “on an accelerated basis,” per the notices. The move echoed the language used for Nasdaq’s approval of IBIT options in September.

Read more: SEC approval of BTC ETF options to ‘attract more big fish’

Speculation about the success of options proposals began shortly after the approval of spot ETFs. The matter seemed in doubt when reports surfaced this summer that the NYSE had withdrawn its proposed rule change. As expected, the SEC sought more time to consider the products as the process moved along. 

With the approvals, the SEC continues to widen market access to crypto-tied financial products on major exchanges. Thus far, 2024 has seen the approval of spot ETFs for both bitcoin and ether, as previously reported.

Whether today’s approvals signal a broader regulatory sea change in the US remains to be seen. The SEC is a frequent target of industry criticism, and its chair, Gary Gensler, has drawn continued scorn and promises from one US presidential candidate, Republican Donald Trump, to fire him should he prevail in November. 

Bitcoin is trading around $68,400 on Coinbase as of press time, up more than 1% on the day, per TradingView data.

---

Get the news in your inbox. Explore Blockworks newsletters:

• The Breakdown: Decoding crypto and the markets. Daily.
• Empire: Crypto news and analysis to start your day.
• Forward Guidance: The intersection of crypto, macro and policy.
• 0xResearch: Alpha directly in your inbox.
• Lightspeed: All things Solana.
• The Drop: Apps, games, memes and more.
• Supply Shock: Bitcoin, bitcoin, bitcoin.