NYSE Arca withdraws request to list options on commodity trusts, crypto ETFs
It’s the latest in a flurry of regulatory activity around options on crypto funds.
New York Stock Exchange’s (NYSE) Arca electronic exchange withdrew a rule change it proposed in January that would have allowed options trading on commodity-based trusts, including cryptocurrency exchange-traded funds (ETFs), according to an Aug. 13 filing.
The purpose of the proposed change was to “permit the listing and trading of options on Commodity-Based Trust Shares,” according to the Jan. 19 filing. It would have included options on crypto ETFs such as Grayscale Bitcoin Trust (GBTC), according to a Feb. 28 letter from Grayscale Investments to the United States Securities and Exchange Commission (SEC).
The SEC should “update its outdated historical patchwork approach to approval of options on spot commodity-based ETPs… including options on GBTC on the Exchanges,” the letter said.
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Author: Alex O’Donnell
