Possible Approval of Bitcoin ETF Options by SEC in February

The U.S. Securities and Exchange Commission is moving quickly to decide on spot Bitcoin ETF-based options products, with potential approval by the end of February, according to Bloomberg analyst James Seyffart. The SEC has officially confirmed the filing of 19b-4 for these options products, a process that is usually completed within 14 days but is now expected to be much faster. Seyffart predicts that the decision will be made before the end of February, with the latest deadline being September 21, 2024. Several filings have been made for options trading related to Bitcoin ETFs, including ones by NYSE Arca, Nasdaq ISE, and Cboe Exchange. The SEC has initiated a 21-day public comment period for Nasdaq’s proposal for options trading on BlackRock’s spot Bitcoin ETF. The SEC has also extended the decision deadline for Fidelity’s Ethereum Fund until March 5, as major firms like BlackRock and Fidelity seek approval for a spot in Ethereum ETF. Fidelity has cited a previous court ruling questioning the SEC’s inconsistency in approving futures-based products while rejecting spot crypto ETFs without clear rationale.