NYSE American Withdraws Proposal for Bitcoin ETF Options

NYSE American LLC has withdrawn its proposal to list and trade options on two spot bitcoin exchange-traded funds (ETFs), as detailed in a filing posted on Thursday.

The exchange had previously proposed a rule change for listing options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF.

“On July 19, 2024, the Commission designated a longer time for Commission action on the Proposal. On August 9, 2024, the Exchange withdrew the Proposal,” the filing explained.

NYSE declined to comment on the matter.

This decision follows the recent withdrawal of similar proposals by other exchanges, including MIAX, MIAX Pearl, and BOX Exchange. Cboe also withdrew its application to list options on spot bitcoin ETFs last week but later re-filed it, hinting that the SEC might be reconsidering its stance.

The SEC had approved several spot Bitcoin ETFs in January from firms like BlackRock, Grayscale, and Fidelity. Other exchanges are exploring options trading but have not yet secured SEC approval.

Additionally, NYSE American has proposed a rule change for listing and trading options on Bitwise’s and Grayscale’s spot Ethereum ETFs.

Update: Aug. 15, 6:55 p.m. UTC – NYSE declined to comment.