The US SEC is taking more time to decide on whether to approve the Grayscale and Bitwise Bitcoin ETF.

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on allowing options trading for Bitcoin exchange-traded funds (ETFs) offered by Grayscale and Bitwise.

According to the SEC’s latest filing on April 8, the Commission has decided to allocate a longer period to review Grayscale’s and Bitwise’s applications to list the trading of their Bitcoin ETF options.

SEC has chosen May 29 as the new date for making decisions.

“The Commission wants more time to think about the new rule before making a decision, so they are extending the deadline. ”

According to Section 19(b)(2) of the law, the SEC has chosen May 29, 2024 as the date by which it will decide whether to approve or disapprove the applications, or start the process to decide.

On January 10, a total of 11 funds that make it easy to invest in Bitcoin were given the go-ahead and can now be bought on the New York Stock Exchange and Nasdaq. These money products made it easier for everyone to use cryptocurrency and gave them new ways to invest.

Applications for a later time filed by Cboe and Nasdaq.

The SEC delayed making a decision about letting people trade options for Bitcoin ETFs until March 2024. The delay caused problems for proposals from Cboe Exchange Inc. Nasdaq ISE and BlackRock wanted to sell options connected to ETFs holding Bitcoin.

The SEC announced that some crypto-related products were delayed. This shows that the regulator is being careful in overseeing their expansion.

These ideas were meant to create new financial tools that traders could use to bet on making money in the future or to prevent losing money.

An investor can pay extra money to make a deal with someone else. This deal is usually done through a marketplace. The deal sets a date in the future when the investor can choose to buy a certain thing, like Bitcoin ETFs, at a set price, no matter what the market price is at that time.

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