Nasdaq Withdraws Spot Bitcoin and Ethereum ETF Options Listing Proposals

Nasdaq ISE (International Securities Exchange) has withdrawn proposals to list and trade options on spot Bitcoin and Ethereum exchange-traded funds (ETFs)

Nasdaq ISE has withdrawn proposals to the SEC for listing and trading options on spot Bitcoin and Ethereum exchange-traded funds, according to filings with the agency.

The exchange withdrew the proposals on Tuesday, stating that no comments were received after the proposal was published in the Federal Register on August 12, 2024.

“Having received no comments on the proposal following its publication in the Federal Register on August 12, 2024, Nasdaq ISE hereby withdraws the proposal,” the exchange wrote in the filing.

The withdrawal notices follow similar actions by other exchanges in recent days. MIAX, MIAX Pearl, and BOX Exchange have also retracted their respective proposals for listing and trading options on spot Bitcoin ETFs.

Cboe initially withdrew its application but subsequently refiled it, potentially indicating ongoing engagement with the SEC on the matter.

NYSE American LLC joined the trend on Thursday by withdrawing its proposal to list and trade options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF.

These moves come as the SEC has yet to approve trading for options products on spot Bitcoin and Ethereum ETFs.

Despite the withdrawals, Bloomberg Intelligence Analyst James Seyffart anticipates that both Nasdaq and NYSE will likely refile their proposals for listing and trading options on spot Bitcoin ETFs in the near future.

“I’m expecting them to re-apply over the coming days or weeks like we saw from CBOE,” Seyffart stated in a post on X.

The recent wave of proposal withdrawals and potential refilings suggests a period of regulatory recalibration in the crypto ETF options market.

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