SEC Delays Decision on Bitcoin ETF Options, Spot Ethereum ETFs Remain in Limbo

• The SEC has once again postponed its decision on Bitcoin ETF options trading on the NYSE.
• Experts criticize the SEC’s indecision and the potential harm to its reputation.
• “Justice delayed is justice denied,” says Georgetown University’s James Angel regarding the SEC’s inaction.

The SEC’s continued delays on Bitcoin ETF decisions raise questions about the agency’s approach and the future of spot cryptocurrency ETFs. Get the latest insights and expert analysis here.

SEC Extends Review Period for Bitcoin ETF Options

In a move that’s becoming increasingly familiar, the Securities and Exchange Commission (SEC) has delayed its decision on applications from Bitwise and Grayscale to allow spot Bitcoin ETF options trading on the New York Stock Exchange. The deadline is now extended to May 29, 2024.

Experts Condemn the SEC’s Bureaucratic Approach

The SEC’s continued inaction is drawing criticism from industry experts. Georgetown University’s James Angel argues that the agency’s delays undermine its credibility and could lead to further legal challenges. He emphasizes the progress made in Bitcoin ETF approvals and the inconsistency of the SEC’s stance.

Implications for Spot Ethereum ETFs

The SEC’s indecisiveness on Bitcoin ETF options casts a shadow on the prospects of spot Ethereum ETFs. Proposals from major players like Invesco and Galaxy Digital remain in limbo, highlighting the regulatory uncertainty surrounding crypto investment products.

Conclusion

The SEC’s delays leave crypto investors frustrated with the lack of clear regulatory guidance. As Bitcoin and Ethereum become increasingly correlated with traditional markets, the need for regulated spot ETF options grows more pressing. Only time will tell if the SEC will overcome its bureaucratic hurdles and adopt a more proactive approach to crypto innovation.