Huge Obstacle For Bitcoin ETF Options as NYSE Withdraw Plans to List Them

As the general public awaits the approval of Bitcoin ETF options on different exchanges, NYSE American LLC has withdrawn its proposal to list and trade these options on two exchange funds, Bitwise Bitcoin ETF and Grayscale Bitcoin ETF.

The reason why this withdrawal was made is not known at the moment, as many are hoping to see if NYSE will re-filed the application again, just like Cboe, who withdrew its applications to list the Bitcoin ETF options last week and re-filed again.

It’s also unclear if NYSE is following the path of other exchanges like MIAX, MIAX PEARL, and BOX Exchange, which withdrew that Bitcoin ETF options proposal last week and has never re-filed it until now.

If this were the case, this would be a major setback for the Bitcoin ETF options trading as the SEC had planned to meet and decide on September 21. This withdrawal occurred on August 9, but the general public was informed on Thursday, August 15.

Just like there was not much clarity from the SEC and exchanges before Bitcoin ETF was approved in January, the US SEC and exchanges continue to leave the public second-guessing and speculating as to the reason why there is a delay in the approval of Bitcoin ETF options and also the reason why NYSE must have withdraw their applications.

Some are speculating that there must be an ongoing positive conversation between SEC and the exchanges; hence, Cboe could have withdrawn their application last week and re-filed again, while others are saying the withdrawal from three exchanges, including NYSE American LLC could hint at a possible drawback in the approval of Bitcoin ETF options.

Before this update, many hoped to see approval for Bitcoin options traing before the end of the year, especially since the election is in November and decisions have to be made quickly. This stance has changed for many with this new update; many are doubting the approval of Bitcoin options trading before the year’s end due to this news.