SEC Pauses on Bitcoin ETF Options Trading Approval
Published Date: 7/8/2025
Notice
Summary
The SEC is taking more time to decide if Nasdaq Phlx can let people trade special FLEX options on the iShares Bitcoin Trust ETF. This affects investors interested in Bitcoin-related options and could change how they trade these products. The decision delay means more review before any money moves or trades happen.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
SEC Sets New Sept 11, 2025 Deadline
The Securities and Exchange Commission designated September 11, 2025 as the new deadline to approve or disapprove Nasdaq Phlx's proposed rule change (File No. SR-Phlx-2024-72). The proposal was published on January 14, 2025; the normal 180-day decision date was July 13, 2025, and the Commission extended the period to 240 days ending September 11, 2025 so it can consider the proposal and comments.
Proposal to Allow FLEX Options on Bitcoin ETF
On December 26, 2024, Nasdaq Phlx filed a proposed rule change to let options on shares of the iShares Bitcoin Trust ETF trade as cash-settled and physically settled FLEX equity options. The proposal was published for comment on January 14, 2025 and the SEC received public comments while it considers whether to approve or disapprove the change.
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