A popular option. It is clear that things are moving very quickly in relation to the recent approval of the first Crypto ETFs in the territory of the United States of America. The excitement is more evident in the case of the versions it covers Ethereum, launched just two weeks ago. Because Nasdaq just joined forces with giant BlackRock to try to add options trading. The change to the rules of the game is pending further approval by the SEC. An opportunity for fund managers Grayscale AND bitwise to follow suit in partnership Wall Street (NYSE).
Ethereum Spot Options ETF
Despite their concurrent approvals, Bitcoin and Ethereum spot ETFs are two financial products definitely different. And the main reason for this distinction lies in BTC popularityfacing cryptocurrency ETH intended for a more informed public.
Situation established before launch Ethereum spot ETF. Especially Wall Street brokers in the process wondering how to sell them to their boomer audience.
At the same time, cryptocurrency ETH offers associated services such as staking out. An option the SEC nevertheless rejected overly optimistic claims from fund managers such as Franklin Templeton. Some analysts are talking about simply postponing…
The dynamics in which the world leader of BlackRock It seems that it is decided to bring options tradingin cooperation with the Nasdaq stock exchange. This follows from an official application, the regulatory outcome of which is awaited… for April 2025.
Wall Street follows
Information that is not clear did not go unnoticed. In fact, barely 24 hours after the Nasdaq filing, a competition is held. And now it’s your turn Wall Street join forces with the giants bitwise AND Grayscale for the purpose of submitting the same application.
“The Exchange (NYSE) believes that offering options on Ethereum ETPs – such as Bitwise Ethereum ETF, Grayscale Ethereum Trust (ETH) and Grayscale Ethereum Trust Mini – will benefit investors. This is by providing them with a relatively cheaper investment vehicle to gain exposure to spot Ethereum ETFs as well as a hedging vehicle to meet their investment needs in relation to ETH products and positions. »
NYSE
It is difficult to imagine how a options market could make it possible to get any coverage in case of Grayscale ETHE. This fund is actually emptying its ETH at an average rate 180 million dollars per day. Which corresponds to the total bleeding from 2.2 billion dollars since the launch of the Ethereum spot ETF.
As with the Nasdaq, demand for Wall Street is open for comments for statutory period of 21 days. And its final approval should not come sooner April 2025 at least. We just have to hope for that Grayscale’s ETHE fund will finish emptying its ETH before this deadline. A case to follow…