Nasdaq ISE withdraws Bitcoin and Ethereum options trading

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Nasdaq ISE (International Securities Exchange) has withdrawn proposals to list and trade spot options on Bitcoin and Ethereum exchange-traded funds (ETFs), according to filings with the SEC.

The exchange withdrew the proposals on Tuesday, saying no comments were received after the proposal was published in the Federal Register on August 12, 2024. The withdrawal notices follow similar actions by other exchanges in recent days.

MIAX, MIAX Pearl and BOX Exchange have also withdrawn their respective proposals to list and trade options on Bitcoin ETFs on the spot. Cboe initially withdrew its request but later renewed it, potentially indicating ongoing engagement with the SEC on the matter.

NYSE American LLC joined the trend on Thursday, withdrawing its proposal to list and trade options on the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF. These moves come as the SEC has yet to approve the trading of options products on Bitcoin and Ethereum ETFs.

Despite the withdrawals, Bloomberg Intelligence analyst James Seyffart anticipates that both Nasdaq and the NYSE will renew their proposals to list and trade options on spot Bitcoin ETFs in the near future.

“I expect them to file again in the next few days or weeks, as we’ve seen from the CBOE,” Seyffart said in a post on X.

The recent wave of proposal withdrawals and potential reloads suggests a period of regulatory recalibration in the crypto ETF options market.

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