United States of America: Opened consultation on NYSE's application to list and trade Bitcoin ETPs

On 29 February 2024, the Securities and Exchange Commission (SEC) opened a public consultation on a proposed rule change by NYSE American LLC. The amendment of Rule 915 authorises the NYSE to list and trade options on Bitcoin Exchange Traded Products (ETPs), including the Bitwise Bitcoin ETF and the Grayscale Bitcoin Trust. The objective of this proposed rule change is to expand the range of securities that can serve as underlying assets for options traded on NYSE to include Bitcoin ETPs such as BITC and GBTC. This submission is intended to facilitate the trading of options on Bitcoin ETPs in alignment with similar proposals currently under review by the SEC from other options exchanges. Should this proposed rule change be approved, it would result in the treatment of options on Bitcoin ETPs being aligned with that of options on other ETFs, including those that cover commodities. This would entail the application of the same listing criteria, trading rules, and regulatory oversight.