SEC Delays Decision on Cboe’s Ethereum ETF Options
teh U.S. Securities and Exchange Commission (SEC) has postponed its decision on Cboe Exchange’s submission to list options on Fidelity Investments’ spot Ethereum ETF. This delay was announced in a regulatory filing on February 28.
Under federal law,the SEC can extend its review period by up to 60 days if it hasn’t made a decision within the initial 180 days. Cboe will now have to wait longer for approval to list options contracts on Fidelity’s Ethereum Fund, ticker FETH.
The SEC stated it needs more time to “consider the proposed rule change.” Cboe first filed for regulatory approval on August 19, 2024. The SEC published the proposed rule change in the Federal Register on September 4,2024,for public comment.
With the 180-day deadline passing on March 3, the SEC now has until May 2, 2025, to make a final decision. The agency’s recent supportive stance on crypto has raised market optimism.
By May 2, the SEC will also have decided on another Ethereum ETF options proposal. This involves options on BlackRock’s iShares Ethereum Trust, with a deadline of April 9, 2025. Nasdaq ISE filed this application in July 2024.
