The US Securities and Exchange Commission has delayed its decision as to whether to approve or reject the application of CBOE EXCANGE to list the options on the spot Etharium Exchange-Trade Funds of Fidelity Investments.
according to a Regulator filing On 28 February, SEC stated that it was advancing its decision on the Atherium (ETH) product.
Under the US federal law, the agency has 60 additional days to reach the final decision, if no decision is taken within the initial 180-day review period. As a result, CBOE will have to wait for a long time before knowing whether he has received green lights to list the option contracts on the Ethereum Fund, Tikar Faith.
In its announcement, the SEC stated that it was expanding the review period to allow “the proposed rule change enough time to consider”.
CBOE first filed for regulatory approval to list ETF options on August 19, 2024. Weeks later, on September 4, 2024, SEC published the proposed rule change in the federal register, opening it for public remarks.
When is the final decision of SEC?
As mentioned, the federal law gives a grant to the SEC for 180 days after the initial filing of the rules of change for taking a decision. If no decision has reached within that period, the agency has an additional 60 days, but before it should approve or reject the application.
For this proposal, the timeline indicates that March 3 would have marked the 180-day time limit, while May 2, 2025, will mark the full 240-day review period. This means that SEC is now in SEC till May 2, 2025, which is to issue its final decision.
Will the regulator wait until uncertain. However, looking at the recent SEC’s recent change, the market spirit is optimistic.
By the time of SEC rules on CBOE application, it would have already taken a final decision on another Etreum ETF option proposal.
It belongs to the deadline of April 2025, for options on the Ishras Atherium Trust of Blackrock. NASDAQ ISE filed an application in July 2024 to list the trade option contracts related to ETHA.
February 7, 2025 AdmissionSEC nominated April 9,2025 as a final decision deadline.
