Here’s the breakdown.
Nasdaq is asking the SEC to make it easier to launch options on crypto-backed ETFs. Under the proposed rule change, certain ETFs holding “digital commodities” could qualify for options listings based on a set of standard requirements. This would essentially negate the separate approval process each time.
The plan is to make it easier for investors to trade options on funds holding assets like Bitcoin [BTC], Ethereum [ETH] and Solana [SOL].
Interestingly, this comes at a time of limbo for the industry, with the CLARITY Act being delayed at the Senate. AMBCrypto previously reported that the SEC also has plans for a “Regulation Crypto” agenda. This would be a framework for tailored rules around certain cryptocurrency investment contracts.
The plan will offer the industry much needed immediate clarity, as the act itself lies in wait.
While others sell, Blackrock stays
It’s also worth noting that institutional interest in Bitcoin is nowhere close to slowing down.
BlackRock’s Robert Mitchnick recently stated that BTC’s decoupling from equities is a healthy development. The argument is that its performance during July’s AI-led pullback means it is a great portfolio diversifier and potential hedge.
That view can also be evidenced by the ETF flows. Over the last 24 hours alone, BlackRock’s Bitcoin ETF saw enough buying from clients to outweigh the combined selling from several other major funds. Including those linked to Fidelity, ARK, and VanEck.
This contrast is peculiar, but important. Even though regulation is on shaky ground, some of the biggest names in TradFi are still treating Bitcoin as an asset worth holding.
Final Summary
- Nasdaq is pushing to streamline crypto ETF options as the CLARITY Act remains stalled.
- Blackrock has continued to back BTC despite other funds selling.
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