US Congressman urges SEC to approve Bitcoin ETP trading

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[Blockchain Today Reporter Kim Jae-min] It has been reported that U.S. lawmakers are requesting the Securities and Exchange Commission (SEC) to approve options trading for Bitcoin ETP (exchange-traded product).

According to a report by Axios on the 3rd, Representatives Mike Flood and Wiley Nickel sent a letter to SEC Chairman Gary Gensler urging the agency to stop discriminating against cryptocurrencies.

“We urge you to approve the Bitcoin spot ETP option without delay or to provide an explanation of the committee’s differences in treatment between the currently traded Bitcoin futures ETF and spot ETP options,” the two lawmakers wrote.

The SEC has been withholding a decision on applications from the New York Stock Exchange, Nasdaq and Cboe Global Markets filed in January.

It has applied to list and trade options on NASDAQ BlackRock's iSares Bitcoin Trust, and Cboe plans to offer options trading for various Bitcoin funds. Additionally, the NYSE plans to trade options on the Bitwise Bitcoin ETF, Grayscale Bitcoin Trust and other trusts that hold Bitcoin.

Meanwhile, the SEC is reportedly holding a consultation round on proposed rule changes to allow options trading on Bitcoin funds.

kjm@blockchaintoday.co.kr

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