The NYSE Withdraws Request for Bitcoin ETF Options
The New York Stock Exchange (NYSE) has quietly withdrawn its request to offer options based on Bitcoin ETFs, according to a document filed with the Securities and Exchange Commission.
The proposed rule change, which would have allowed the listing of options on Bitwise and Grayscale’s Bitcoin ETFs, was cancelled even before the SEC made its final decision. NASDAQ and CBOE have also followed similar paths.
History of Options Listing Request
The process began in February 2024, when NYSE submitted its proposal to the SEC for public review. After several extensions of the review period, the SEC initiated formal proceedings in April.
In May 2024, NYSE announced its intention to launch options linked to Bitcoin prices, using CoinDesk’s Bitcoin Price Index as a reference. This project aimed to offer investors a new way to expose themselves to Bitcoin, in addition to the existing ETFs available on the market.
However, before the commission could rule, the exchange decided to withdraw its proposal, thus interrupting the regulatory process.
Similar Actions by Other Exchanges
NYSE is not the only institution to have reversed course on this type of proposal. The Chicago Board Options Exchange (CBOE), another major platform for Bitcoin ETF trading, had also withdrawn its similar request. However, according to Bloomberg’s ETF specialist James Seyffart, CBOE has since reworded and filed a new request, this time with a more detailed proposal.
So far, the SEC has not made any public comments or provided specific feedback on these withdrawals.
