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SEC Approves Trading of Ether ETF Options
The regulator had initially postponed a decision back in February but ETF analyst James Seyffart said the approval wasn’t a surprise.
What to know:
- The U.S. Securities and Exchange Commission approved options trading for Blackrock's ether exchange-traded fund.
- Nasdaq ISE filed for the product last July.
The Securities and Exchange Commission (SEC) gave the green light for the trading of options tied to ether (ETH) exchange-traded funds (ETFs).
STORY CONTINUES BELOW
On Wednesday, the regulator approved a filing from Nasdaq ISE, filed last July, which asked to list options contracts on the BlackRock’s iShares Ethereum Trust (ETHA). Options are a popular trading vehicle to leverage and hedge risk and are especially attractive to institutional investors who are looking to control large amounts of shares.
The Commission had until today to make a decision. James Seyffart, ETF analyst at Bloomberg Intelligence, said the approval was “100% expected.”
The options apply specifically to ETHA, meaning that BlackRock’s product is the only spot ether ETF that options can be traded on.
Other funds are listed on the New York Stock Exchange’s Arca and Cboe. Cboe has also filed an application to list options on the ETFs it lists.
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
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Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
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