Nasdaq is urging the U.S. Securities and Alternate Fee to loosen restrictions on choices buying and selling for spot Bitcoin and Ethereum exchange-traded funds.
The change filed its request on Jan. 21, asking regulators to take away the present 25,000 place and train limits on choices tied to sure bitcoin and ether funds.
What Nasdaq is asking for
If authorised, the change would apply to BlackRock’s iShares Bitcoin Belief (IBIT) and its Ethereum fund (ETHA).
Nasdaq mentioned choices on ETFs from issuers together with Grayscale, Bitwise, Constancy, ARK 21Shares, and VanEck may later be coated by larger limits as properly.
Below the proposal, the bitcoin and ether ETF choices could be introduced underneath the identical position-limit framework used for different ETF choices listed on Nasdaq.
Nasdaq argued that aligning these merchandise with present ETF choices guidelines would create fairer and extra constant remedy throughout funds.
Timeline and course of
Nasdaq additionally requested the SEC to waive the usual 30-day delay and make the rule change efficient instantly.
The SEC is at the moment accumulating public feedback and a closing resolution is predicted by the top of February.
Institutional shopping for continues
The submitting comes as massive establishments proceed including bitcoin.
BlackRock lately purchased 9,619 BTC valued at about $878 million and 46,851 ETH value about $149 million over three consecutive days, in keeping with Lookonchain.
Technique additionally disclosed it bought 22,305 BTC between Jan. 12 and Jan. 19 for roughly $2.13 billion.
After that purchase, Technique’s whole holdings rose to 709,715 BTC, in keeping with the corporate.