Fidelity’s Ethereum ETF Drama: SEC Hits Snooze Button! 😴

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So, here we are—another day in the upside-down world of finance where the US Securities and Exchange Commission (SEC) has decided that making a decision is just too much pressure. 🙄 They’ve hit the pause button (probably while sipping a lukewarm cup of coffee) on Fidelity Investments’ oh-so-daring request to list Options on its spot Ethereum ETF product. In a delightful twist, they’ve decided that their crystal ball needs more time to work its magic. Cheers to that!

Options on Spot Ethereum ETF Demand Is Growing

According to the latest from the SEC’s filing, they are now eyeing May 2, 2025, as the *tentative* date to bless us with their verdict about these Options listings. Why 2025? Who knows? Maybe they think we need more time to binge-watch our favorite shows before facing the market! 📅 They’ve also asked the great unwashed masses for comments, and apparently, they received some feedback by January 21, 2025. Jolly good!

Let’s rewind to October 19, 2024, when Fidelity decided that Options on its spot Ethereum ETF was the new black. The CBOE Exchange hopped on this trend like it was the latest TikTok dance, filing a proposal in hopes of sprinkling some diversification magic on its ETF portfolio. Because who doesn’t want more options in the wild, wild world of investing?

The enthusiasm for options products on ETH ETF is bubbling up like a cauldron of hope and uncertainty. Earlier this February, the CBOE BZX Exchange jumped in with its own proposal to list and trade options on something called the Bitwise Ethereum Fund (sounds fancy, right?). Meanwhile, BlackRock is also hitching a ride on this rollercoaster, but spoiler alert: none of these proposals have received the golden ticket from our beloved market regulator yet. 🎢

This is a developing story—stay tuned for more laughs and eyebrow raises!!!

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2025-03-01 00:42