A pair of bipartisan US Congressmen have reportedly asked the US Securities and Exchange Commission (SEC) to greenlight options trading on spot Bitcoin (BTC) exchange-traded funds (ETFs).
Citing a letter to SEC Chairman Gary Gensler, Axios reports that Reps. Mike Flood (R-NE) and Wiley Nickel (D-NC) say approving options trading on Bitcoin ETFs is critical and crucial for investors looking to the securities watchdog is trying to protect. .
Reads the document, according to Axios,
“We urge you to promptly approve options on spot Bitcoin ETPs or provide an explanation for the Commission’s difference in treatment between options on Bitcoin futures ETFs – currently traded – and options on spot Bitcoin ETPs ( exchange traded products). ).”
Several exchanges, including Cboe, BOX, MIAX, Nasdaq ISE and NYSE American, have filed with the SEC to offer options trading on the new Bitcoin ETFs.
The SEC has not yet responded to the exchanges’ proposals and is currently seeking public comment on rule changes that will allow options trading on Bitcoin funds.
The agency says the proposed rule changes should align with provisions in the Securities Exchange Act that aim to protect investors and the public interest.
Says the SEC in an April 24 notice:
“[T]The Commission invites interested persons to submit written views on whether the proposed rule changes are consistent with section 6(b)(5), or any other provision of the Act, or the rules and regulations thereunder.”
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