Delay from SEC to BlackRock's Ethereum ETF Options: Eyes Turned to This Date! - Koin Bulletin

The US Securities and Exchange Commission (SEC) has postponed BlackRock's application to list options for its spot Ethereum ETF for trading. The agency announced that it will announce its final decision on April 9, 2025.

In the document announcing the delay decision, the SEC stated, "The Commission needs more time to evaluate the proposed rule change and the issues arising in this context."

BlackRock's spot Ethereum ETF, along with eight other Ethereum ETFs, was approved in May 2024 and began trading in the summer months. Subsequently, Nasdaq applied for a rule change in August to allow options trading for iShares Ethereum Trust on behalf of BlackRock.

Harsh Reaction from Crypto Critics!

During the process leading up to the SEC's decision, two official objection letters were submitted to Nasdaq's application. One of them came from Better Markets, an organization working to strengthen financial regulations and taking a critical stance against crypto.

Better Markets called on the SEC to proceed with caution regarding allowing options trading for spot Bitcoin and Ethereum ETFs. The organization argued that both assets are extremely volatile and pose serious risks for retail investors.

Benjamin Schiffrin, Securities Policy Director at Better Markets, used the following expressions in the letter he sent to the SEC:

"Retail investors are already losing billions of dollars in options trading. Allowing options for Spot Ethereum ETFs creates a new opportunity to exploit individual investors only for large market players.