Bitcoin: SEC reviews its partition for options trading on spot ETFs

Bitcoin opportunity. US SEC has approved spot Bitcoin ETFs at the beginning of the year almost more under duress than actually voluntarily. A situation that surely stuck in the throat of his boss, now identified as (not particularly) troll Gary Gensler. Because it was unexpected the extent of its blocking power in other areas associated with this intrusion of cryptocurrencies into traditional finance. Regulatory pressure that is now imposed on the desired opening of the derivatives market (options) for these new BTC version financial vehicles. But it is clear that the US financial policeman is finding himself again well alone in his exercise of voluntary slowness.

No sooner were Bitcoin spot ETFs approved until the SEC investigated new files to prevent. In particular, the version of these financial instruments applied Ethereumof which the possible implementation in May seems increasingly compromised.

But another matter is also pending concern the possible use of derivatives in the spot Bitcoin ETF market. And once again the SEC asked more time to reflect and examine any comments on the topic.

ETFs and Derivatives: The SEC Receives Comments
The SEC isn’t done with Bitcoin spot ETFs

A procedure put in place since April 8 to solicit comments on change of rule necessary to include these ETFs Bitcoin. And the answers did not fail to rain down from all sides to defend the benefits of this add-on considered quite natural.

Comments taken by the SEC in its recently published expanded report on the subject. And the least we can say is that the tone is quite favorable at the opening of the options market to Spot Bitcoin ETF.

“Additionally, the commenter stated that authorizing the listing and trading of options on spot Bitcoin ETPs “would bring Bitcoin further into the regulatory scope by allowing other regulated market participants, such as designated contract dealers regulated by the CFTC and brokers regulated by the SEC, to trade with these types of products. »


A new reflection period is desired

But this enthusiasm – shown by players such as Nasdaq or the Chicago Board Options Exchange (Cboe) – clearly has one opposite effect than expected when it comes to the SEC. Because instead of calming her down, it just triggered… a new reflection period.

The purpose of the American regulatory body this time aims to try to understand how this listing may affect the Bitcoin market as a whole, mainly in times of stress.

“Proposals must analyze the potential impact that listing options on Bitcoin ETPs may have on the quality and functioning of the Bitcoin market, particularly during times of market stress, taking into account the linkages between the Bitcoin markets for Bitcoin ETPs Bitcoin ETPs and spot Bitcoin.”


United States Securities and Exchange Commission (SEC) once again postpones its decision in the derivatives file used to spot Bitcoin ETFs. Opportunities much expected on the various US exchanges able to offer them. Even more with a competing market ready to open its doors in Hong Kong in a few days. Deadline for returning copies: May 29.

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