SUMMARY

• The SEC has delayed its decision on Nasdaq’s proposed rule change for listing and trading options on BlackRock and Bitwise’s spot ether ETFs, moving the deadline to November 10.
• Last week, the SEC approved options for BlackRock’s iShares Bitcoin Trust (IBIT).

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Nasdaq’s proposition to approve the listing and trading of options on BlackRock and Bitwise’s spot Ethereum (ETH) exchange-traded funds (ETFs). Initially set for this Thursday, the ruling has been put off to November 10, allowing the organization more time to audit the proposition. The SEC stated that the extended period would allow them adequate time to assess the rule change altogether.

In a separate release, the SEC moreover deferred its choice on NYSE American’s proposal to list and trade options for Bitwise’s spot Ethereum ETFs, Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust. The decision for this ruling has presently been delayed to November 11. The recent delays come fairly after the SEC endorsed options for BlackRock’s iShares Bitcoin Trust (IBIT) last week, a move seen by analysts as a noteworthy step for the Bitcoin ETF market. Bloomberg’s senior ETF analyst Eric Balchunas depicted the endorsement as a “huge win” for Bitcoin ETFs.

The Nasdaq International Securities Exchange at first recorded the proposition for Ethereum ETF options in August to make these funds more open to retail and institutional investors. The proposition highlighted that the shares are planned to streamline investments in Ethereum by maintaining a strategic distance from the complexities and operational challenges of direct ownership, while still giving exposure to the cryptocurrency’s intrinsic value.

Currently, BlackRock’s Ethereum ETF (ETHA) has net assets worth around $977 million, with total inflows of $1.10 billion, making it the top fund among the nine Ethereum ETFs. Be that as it may, these ETFs have seen more outflows than inflows since their launch on July 23, registering negative streams of over $624 million. Despite these challenges, the upcoming SEC decisions on the listing and trading of Ethereum ETF options may affect the future direction of these funds in the market.

As the SEC continues to weigh its choices on these high-profile recommendations, investors are observing closely for any potential shifts in the regulatory scene that might influence the accessibility and development of Ethereum ETFs.