From Investing.com:

Options on new U.S. spot bitcoin exchange-traded funds (ETFs) could take months to gain regulatory approval, potentially impacting the appeal of the products. The SEC last month approved spot bitcoin ETFs, but the delay in options approval is due to a lack of established regulatory process, as the Commodity Futures Trading Commission (CFTC) oversees commodity derivatives involving bitcoin. Martin Leinweber, digital asset product strategist at MarketVector Indexes, predicts the process for options approval could take between two and ten months. Without options, big investors may face risk management issues and may avoid the ETFs altogether. The delay also hinders the crypto industry’s goal to introduce more innovative crypto products to the market. The delay in options approval for the ETFs could have an impact on the crypto industry. Nasdaq, CBOE, and NYSE Arca, which list the ETFs, have sought SEC approval to launch options, and CBOE expects to list options “later in 2024.” The Options Clearing Corporation (OCC) clears options for exchanges and must seek CFTC approval for commodity-based products, but the OCC declined to comment on a possible timeframe. Some exchange executives are due to meet with CFTC officials to discuss the issue soon. Given it took 10 years for the SEC to approve bitcoin ETFs, a delay in options approval wouldn’t be surprising. Adam Sze, head of digital assets product at Global X, withdrew its own application for a spot bitcoin ETF on Tuesday. Sze said, “A few more months for listed options probably isn’t that long in the grand scheme of things.”



Read more: Regulatory nod for US spot bitcoin ETF options may take months- sources By Reuters