Options features are expected to be added to spot Bitcoin (BTC) exchange-traded funds (ETF) in the US in the fourth quarter, according to Bloomberg ETF analyst James Seyffart.
In another post, Seyffart highlighted that the ETF offering could commence as early as the third quarter, with the final deadline for a decision from the US Securities and Exchange Commission (SEC) set around Sep. 21.
He added:
“Technically in our note I said second half of 2024 because the SEC deadline is in 3rd quarter (sept 21) and there’s nothing stopping things from moving even faster than that other than: ‘It normally takes longer than that.’
Seyffart also emphasized that the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC) must also approve the inclusion.
As a reference, the Bloomberg analyst listed 20 ETFs related to Bitcoin and Ethereum (ETH) that already have options, including leveraged products.
Shortly after Seyffart’s prediction, three exchanges — BOX Exchange, MIAX Pearl, and Miami International Securities Exchange — withdrew their applications to list spot Bitcoin ETF options.
However, senior Bloomberg ETF analyst Eric Balchunas noted that those are three “tiny exchanges,” while major entities like the New York Stock Exchange (NYSE), Nasdaq, and Chicago Board Options Exchange (CBOE) still have active applications.
Options for Ethereum ETFs
On Aug. 7, Nasdaq and BlackRock filed to add to the asset manager’s spot Ethereum ETF iShares Ethereum Trust (ETHA). The SEC has 21 days to provide comments on the matter, with the final deadline projected to be around April 9, 2025, according to Seyffart.
Nasdaq mentioned in the filing other commodity ETFs with listed options on its platform, such as BlackRock’s iShares COMEX Gold Trust and the iShares Silver Trust.
Bitcoin ETF flows
After two consecutive days of outflows, Bitcoin ETFs saw $45 million in inflows on Aug. 7. Despite Grayscale’s GBTC outflows of $30.7 million, BlackRock’s IBIT received $52.5 million in cash.
Balchunas expressed surprise at the inflows, expecting them to continue until Bitcoin ETFs reduced their AUM by 2% to 3%. However, only a 0.5% decrease was recorded, despite BTC dropping 21% on a weekly basis.
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**Meta Description:** Learn about the potential additions of options features to Bitcoin ETFs in the US, as well as updates on Ethereum ETFs and Bitcoin ETF flows. Stay informed on the latest developments in cryptocurrency investments.
