Ethereum Under Pressure, SEC Pulls Brakes On ETH Options
The cryptocurrency industry is still beset by regulatory uncertainty. Ethereum ETF options were anticipated to be a significant breakthrough, but the Securities and Exchange Commission (SEC) has just delayed its decision.
BlackRock’s iShares Ethereum Trust ETF (ETHA) options approval has been delayed by the Securities and Exchange Commission.
Nasdaq and BlackRock proposed a rule change that would allow options trading for their spot Ethereum ETF. The SEC must now determine by April 9 if the options can be approved.
The financial regulatory body declared it would take a while to approve or disapprove it. Options trading for BlackRock’s spot Bitcoin ETF was approved by the SEC in September of last year.
The trading of these options started in November. About half of Deribit’s open interest last month was made up of IBIT options, which proved a huge success and grew quickly. Data from Volmex shows that IBIT options had an open interest of over $13 billion, 55% of Deribit’s options’ open interest.
IBIT surpassed the likes of iShares 20+ Year Treasury Bond ETF (TLT) as one of the busiest ETF options markets soon after its debut. connected.
Mike Novogratz, the head of Galaxy Digital’s crypto funds, talks about how Ethereum has underperformed, compared to its main rivals, like Solana, XRP Bitcoin.
According to Novogratz, the Securities and Exchange Commission (SEC) and its now-former chairman Gary Gensler . have treated the altcoin prince poorly. In addition to the numerous legal threats, the latter put things off and was unable to determine whether the super altcoin was a security or commodity,
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