As a seasoned researcher in the digital asset sphere, I have witnessed the ebb and flow of regulatory decisions and market dynamics with a mix of excitement and trepidation. The recent refiling of the application for options trading on spot Bitcoin ETFs by CBOE has sparked a new wave of anticipation, especially given the previous withdrawals by other exchanges earlier this month.
As an analyst, I’m sharing that on Thursday, I observed the CBOE exchange resubmitted its application for options trading on spot Bitcoin ETFs listed on Wall Street. Following the withdrawal of their prior application, they’ve updated and filed a fresh one, with further details expected soon.
Bitcoin ETF Options Trading
With growing interest in Bitcoin ETFs among traditional investors, there’s an increasing emphasis on providing options for trading these investment products. According to James Seyffart, a strategist at Bloomberg ETF, a recent filing by CBOE offers a more refined and comprehensive approach that addresses some of the Securities and Exchange Commission’s (SEC) concerns regarding position limits and market manipulation.
As a seasoned investor with over two decades of market experience under my belt, I find it intriguing to observe the recent developments unfolding in the financial world. Last Thursday, August 8, three prominent exchanges – Nasdaq, NYSE, and CBOE – unexpectedly withdrew their applications. The initial deadline for the SEC’s decision was set for September 21, but this sudden move could potentially reset the approval clock once more.
As a seasoned investor with over two decades of experience in the financial markets, I have seen my fair share of regulatory delays and unexpected twists. Based on past observations, I can’t help but feel a mix of intrigue and apprehension when faced with the uncertainty surrounding the SEC’s potential engagement with CBOE.
A different Bloomberg analyst, Eric Balchunas, likewise opined that this resubmission from CBOE indicates a positive development, implying that the Securities and Exchange Commission (SEC) might be inclined to interact with the exchange regarding this matter.
As a seasoned investor who has weathered countless market fluctuations and witnessed the rise of digital currencies, I find it intriguing that NYSE American is pushing forward with options trading for three Ethereum ETFs amidst the market’s turmoil. Despite the FUD (Fear, Uncertainty, Doubt) swirling around the crypto space, it’s refreshing to see a major exchange taking this bold step.
BTC ETF Inflows Surge
Bitcoin spot ETF inflows have accelerated again, this time led by BlackRock’s IBIT. On August 8th specifically, a total of $201 million was invested into these ETFs, with IBIT receiving $164.5 million. Notably, BTCW ETF from WisdomFlow followed closely behind, taking in more than $118 million, as per data from Farside Investors.
Meanwhile, while concerns about a potential U.S. recession linger, Bitcoin’s price experienced a significant surge of over 8%, reaching as high as $61,800 – a strong sign of a bull market recovery. Yet, economists urge caution due to these ongoing apprehensions.
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2024-08-09 07:08