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Bitwise and Grayscale have submitted filings to the SEC to include options in their spot Ethereum ETF, potentially transforming how investors access cryptocurrency markets.
Bitwise and Grayscale File for Ethereum ETF Options
Bitwise and Grayscale Investments have notified the US Securities and Exchange Commission (SEC) that they intend to include Options products in their spot Ethereum ETF.
According to Coingape, both asset managers have indicated in a filing that, should approval be granted, the products will be listed on the New York Stock Exchange (NYSE).
Following the base product's approval by the market regulator, there is a desire for a regulation modification to list Options on spot Ethereum ETF. Institutional investors, however, are looking for more than simply the initial ETF launch.
Grayscale and BlackRock are the latest Ethereum ETF issuers to respond to the product's rising demand.
The markets regulator headed by Gary Gensler is still unsure about crypto ETF options. A lot of give and take was required to approve Bitcoin and Ethereum ETFs, but the idea of an Options-linked crypto fund, which is notoriously hazardous, seems far-fetched.
Crypto Options Could Match Traditional Products
Supporters of the product, however, contend that if it works for conventional investment products tied to Options, then it must also work for crypto counterparts. After the submission is made, the deadline for comments is 21 days.
The New York Stock Exchange has maintained that investors would have more access to Grayscale Ethereum Trust (ETH) if options on the token are listed and traded. Also, the Bitwise Ethereum ETF and Grayscale Ethereum Trust Mini are in the same boat.
Given that Bitwise and Grayscale are prominent issuers of this product, their combined approval weight might persuade the market regulator to reevaluate its position.
Based on its past performance, BlackRock's involvement in this bid is a further plus. It is possible that Ethereum's prospects will be unaffected by the fact that the options bid on spot Bitcoin ETF has not yet received permission.
Grayscale Swaps Out Its ETF Product Line
It is ironic that Grayscale is acting now to swap out its ETF product line. The current election battle between Donald Trump and Kamala Harris has put the digital currency ecosystem in the spotlight.
Since Judge Analisa Torres delivered her ruling on Ripple's lawsuit against the US today, the industry is also presently celebrating. The judge fined the blockchain payment provider $125 million for peddling XRP to large financial institutions.
In light of the decision, CEO Brad Garlinghouse has stated that the organization will now prioritize growth projects going ahead.
