BREAKING: U.S. SEC Delays BlackRock’s Spot Ethereum ETF Options Listing

The United States Securities and Exchange Commission (SEC) has extended its decision on listing BlackRock’s spot Ethereum exchange-traded fund (ETF) options to November 10.

BREAKING: SEC DELAYS OPTIONS ON @BlackRock SPOT ETHEREUM ETF pic.twitter.com/5H5hx0GB7u

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SEC Delays BlackRock’s Options Listing

On August 7, BlackRock requested that the SEC approve the options listing of its iShares Ethereum Trust (ETHA) on the Nasdaq stock exchange. This move, which came over two months after the financial regulator endorsed the spot Ethereum ETF, was recognized as the first of its kind from an ETF issuer. If the product is approved, users can buy or sell ETH at a predetermined price within a specific period.

Upon receiving the request, the SEC had 45 days to decide whether to approve or disapprove the options product. The regulatory watchdog explained that it had the willpower to extend the timeframe to 90 days, a choice it has embraced.

The financial agency wrote in an official filing:

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission [. . .] designates November 10, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”

Will the SEC Approve on November 10?

It is uncertain whether the SEC will endorse BlackRock’s options product on November 10. Still, the financial agency is likely to give a green light, given that it approved the options trading for BlackRock’s spot Bitcoin ETF four days ago in a 20-page document.

It is worth noting that ETF analysts like James Seyffart have a different outlook on the SEC’s potential approval. Seyffart projected April 9, 2025, as the date the securities regulator will decide whether to approve the product. He explained that the SEC is not the sole decision-maker when adding options. In this case, agencies like the Commodity Futures Trading Commission (CFTC) and Options Clearing Corporation (OCC) contribute to decision-making.