CBOE Resubmits Bitcoin ETF Options Application, Bloomberg Analyst Predicts Listing Before Year-End

According to Bloomberg, the Chicago Board Options Exchange (CBOE) has resubmitted its application for a Bitcoin spot ETF. Analyst James Seyffart believes that the Bitcoin spot ETF could appear in the fourth quarter of this year. In addition, the application for an Ethereum spot ETF is also progressing rapidly.

Bitcoin ETF Options Could Appear by the End of the Year?

According to a tweet from ETF analyst James Seyffart at Bloomberg, the Chicago Board Options Exchange (CBOE) withdrew its application for Bitcoin ETF options last night. While this might sound like bad news at first, they immediately resubmitted a completely new updated application. This new application, totaling 44 pages, is significantly longer than the original 15-page document, focusing on issues related to position limits and market manipulation.

While it cannot be confirmed whether the U.S. Securities and Exchange Commission (SEC) will participate in discussions, it appears to be a positive sign. Seyffart believes that Bitcoin ETF options could emerge in the fourth quarter of this year. The SEC's final deadline for a decision is September 21, but beyond that, approval from the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC) is also required.

He also listed some ETFs related to BTC and ETH, including leveraged ETFs that already have options. These ETFs have a combined total of $4.9 billion in assets under management, each having its own options. However, Bitcoin spot ETFs already have a total AUM of $59.5 billion, so there seems to be no reason not to approve the listing of their options. Options not only allow investors to bet long or short on the underlying assets or hedge, but also increase market liquidity.

Ethereum ETF Options Also Gaining Momentum

Recent applications for Ethereum ETF options are also gaining momentum. The New York Stock Exchange (NYSE) has submitted rule changes for three Ethereum spot ETFs, including Bitwise's ETHW, Grayscale's ETHE, and ETH, to be approved for listing and trading of options based on these three ETFs.

Nasdaq has also submitted documents for the listing of options based on BlackRock's Belvedere's Ethereum spot ETF ETHA.