SEC delays Ether ETF options ruling until May 2025

The U.S. Securities and Exchange Commission (SEC) has again postponed its decision regarding the listing of options tied to Ether (CRYPTO:ETH) exchange-traded funds (ETFs) on the Cboe Exchange, setting a new deadline in May 2025.

According to a Feb. 28 regulatory filing, the agency needs additional time to decide whether to permit the listing of these options.

Cboe initially requested to list Ether ETF options in August 2024, prompting the SEC to extend its review period in October.

The exchange is seeking to list options on the Fidelity Ethereum Fund (FETH), which has approximately $1.3 billion in net assets.

The SEC also responded similarly to Nasdaq ISE, another U.S. securities exchange, and intends to decide by April if the exchange can list options tied to BlackRock’s iShares Ethereum Trust (ETHA).

BlackRock’s fund is the largest ETH ETF, holding more than $3.7 billion in net assets.

The SEC has up to 180 days after the initial filing of a proposed rule change to make a decision.

If no decision is reached within that period, the agency has an additional 60 days, but no more, before it must either approve or reject the application.

March 3 would have marked the 180-day deadline, while May 2, 2025, will mark the full 240-day review period.

Investment managers anticipate that the expansion of cryptocurrency ETF options in the U.S. will accelerate institutional adoption.

Spot Ether ETFs were listed in July 2024 and have attracted approximately $11 billion in net assets, according to VettaFi’s data.

The launch of options on spot Bitcoin ETFs in November saw almost $2 billion in total exposure on the first day of listing for options contracts on BlackRock’s iShares Bitcoin Trust ETF (IBIT).

Options contracts grant the right to buy or sell an underlying asset at a certain price.

Several exchanges, including the New York Stock Exchange (NYSE) American and Nasdaq International Securities Exchange (ISE), have previously withdrawn applications for Bitcoin (CRYPTO:BTC) options.

Cboe withdrew its earlier application for BTC ETF options on August 8 but has refiled with a wider scope.

In related news, Coinbase launched Solana (CRYPTO:SOL) futures on Feb. 19.

The Chicago Mercantile Exchange (CME) Group also announced plans to launch SOL futures contracts on March 17, pending regulatory approval.

At the time of reporting, the Ethereum (ETH) price was $2,493.14.