NYSE Arca Will Not List Crypto ETF Options
NYSE’s electronic exchange, Arca, has cancelled a proposed rule change that would have allowed for options trading on commodity-based trusts, including cryptocurrency exchange-traded funds (ETFs).
This action was originally proposed in January, with the intention of allowing the trading of options on Commodity-Based Trust Shares.
This would have included crypto ETFs such as Grayscale Bitcoin Trust (GBTC), according to a communication from Grayscale Investments to the Securities and Exchange Commission (SEC) on Feb. 28.
The letter urged the SEC to modernize its approach to the approval of options on spot commodity-based ETPs, specifically calling for the inclusion of options on GBTC on the various exchanges.
However, the recent withdrawal marks another instance in a series of recent activity centered around the potential for options trading on spot crypto ETFs.
