The New York Stock Exchange (NYSE) has filed an application with the U.S. Securities and Exchange Commission (SEC) to list and trade options on spot Ethereum-ETFs developed by Bitwise and Grayscale. The exchange believes that the ability to trade options on the three Ethereum-ETFs will be beneficial to investors.

On August 7, 2024, the NYSE initiated the process to obtain SEC approval to trade options for three specific funds, Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and Bitwise Ethereum ETF (ETHW). All of these ETFs are already listed on the NYSE platform.

In the filing, the NYSE indicated that the approval of options trading will provide investors with access to a low-cost investment vehicle for investing in Ethereum, as well as create a hedging opportunity that will help them meet their investment needs for products related to the asset.

According to the information, the plan is to collect comments on the proposal within 21 days of the filing. This means that in the coming weeks, the public and stakeholders will be able to express their opinions on the request.

It is worth noting that just one day before the NYSE filing, on August 6, 2024, the Nasdaq Stock Exchange and the world's leading asset management company BlackRock also asked the SEC to allow options trading on the iShares Ethereum Trust ETF (ETHA). This synchronicity between the two major exchanges underscores the growing interest in cryptocurrency products from institutional investors.

However, as Cointelegraph reports, the NYSE and Nasdaq may have to wait for the SEC to rule on their requests. The regulator has yet to authorize trading in options on spot bitcoin funds, despite the fact that they were launched back in January this year. This suggests that the SEC is being cautious about new cryptocurrency financial instruments, perhaps waiting for more data on the market impact of these products and their potential risks.

The cryptocurrency market and related financial instruments continue to attract investor attention, and the successful introduction of options on the Ethereum-ETF could significantly expand access to this asset class. Investors interested in cryptocurrencies may gain additional opportunities to trade and hedge risk if the SEC rules favorably on the NYSE and Nasdaq applications.

Thus, the future of options trading on the Ethereum-ETF remains in question, and further actions by the SEC will be key to the development of this market segment. Investors are eagerly awaiting the results, as they may determine how the cryptocurrency market will develop in the coming months and years.