NASDAQ and NYSE Withdraw Applications to List Bitcoin ETF Options

Both NASDAQ and the New York Stock Exchange (NYSE) have withdrawn their applications to list Bitcoin ETF options.

The New York Stock Exchange (NYSE) and NASDAQ have both withdrawn their applications to list options on Bitcoin exchange-traded funds (ETFs).

The NYSE filed a withdrawal on 14 August with the US Securities and Exchange Commission (SEC) for its application that would see a rule change to allow it to list and trade options on the Bitwise Bitcoin ETF (BITB) and the Grayscale Bitcoin Trust (GBTC).

Earlier this month, BlackRock and the NASDAQ filed to list options on the asset manager's Ethereum ETF.

"The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether," the filing said.

Grayscale and Bitwise then sought approval for options for their spot Ethereum ETFs on the NYSE. The exchange said options would "benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether as well as a hedging vehicle to meet their investment needs in connection with ether products and positions."

One day later, NASDAQ made a similar move, filing with the regulator to withdraw requests to list Bitcoin and Ethereum options.

The exchange originally filed in May to show “that the shares of each of the specified Bitcoin ETPs on which an exchange proposes to list options are ‘widely held and actively traded,’ as required by the exchanges’ rules.”

However, Bloomberg analyst James Seyffart remains confident that the exchanges will refile these applications "over the coming days or weeks.

Seyffart highlighted how CBOE withdrew its application to trade options based on Bitcoin ETFs earlier this month too but refiled shortly after.

Last week, Goldman Sachs, Morgan Stanley, and Wisconsin's Investment Board revealed their Bitcoin ETF holdings including BlackRock (IBIT), Fidelity Wise Origin Bitcoin (FBTC), Invesco Galaxy Bitcoin ETFs (BTCO), and GBTC.