Nasdaq is seeking approval from the US SEC to remove the restrictions on options trading for Bitcoin and Ethereum ETFs. The post Nasdaq Seeks Removal of TradingNasdaq is seeking approval from the US SEC to remove the restrictions on options trading for Bitcoin and Ethereum ETFs. The post Nasdaq Seeks Removal of Trading

Nasdaq Seeks Removal of Trading Restrictions on Bitcoin and Ethereum ETFs

Nasdaq has asked that the United States Securities and Exchange Commission (SEC) lift the restrictions on several Bitcoin BTC $89 479 24h volatility: 0.1% Market cap: $1.78 T Vol. 24h: $51.99 B and Ethereum ETH $2 965 24h volatility: 0.5% Market cap: $356.41 B Vol. 24h: $31.27 B ETFs. Precisely, it is requesting approval to remove the 25,000 position and exercise limit restrictions on options trading on these cryptocurrency funds in question.

Nasdaq Bitcoin and Ethereum ETF Proposal: Who Benefits?

The filing with the US SEC is dated Jan. 21. This move, if approved by the regulator, would impact options on BlackRock’s iShare Bitcoin Trust ETF (IBIT) and its Ethereum ETF counterpart (ETHA).

Grayscale, Bitwise, Fidelity, ARK21Shares, and VanEck ETF options limit will also increase in the long run.

Every one of these crypto ETFs will be subject to the standard position limits outlined in the Nasdaq Options Market rules. This will sync them with other existing ETF options. To boost its argument for the removal, Nasdaq noted that the proposal promotes ‘just’ and ‘equitable’ principles of trade. The stock market also claimed that it prevents unfair discrimination and supports a free and open market.

This is achieved by ensuring consistent regulatory treatment. Moreso, it does not impose any significant burden on competition while protecting investors. This is because similar changes are expected to show up across other options exchanges. In addition, Nasdaq requested that the securities agency waive the standard 30-day delay and make the proposal effective immediately.

In the meantime, the SEC is seeking comments, with the end of February marked as the scheduled period for a decision.

BlackRock and Strategy Expands Bitcoin Exposure

Meanwhile, BlackRock has been increasing its BTC stash, likely leveraging the current selloff.

At the beginning of January, BlackRock added 9,619 Bitcoin, worth about $878 million at the time, and 46,851 Ethereum, equivalent to $149 million, across three straight days. According to on-chain tracking firm Lookonchain, the combined acquisition was worth roughly $1.03 billion.

In line with related institutional Bitcoin purchases, business intelligence software firm Strategy bought 22,305 BTC for approximately $2.13 billion between Jan. 12 and 19. As a result of this acquisition, the company’s total holdings currently stands at 709,715 BTC.

This represents roughly 3.38% of Bitcoin’s total 21 million supply.

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