NYSE American Submits Application for Approval of Grayscale Bitwise Ethereum Spot ETF Options

On the 8th (local time), Grayscale and Bitwise requested approval for Ethereum spot exchange-traded index fund (ETF) options.
Cointelegraph reported. According to the report, NYSE American
In a filing with the Securities and Exchange Commission (SEC) on the 7th, Grayscale Ethereum LLC
Allows listing and trading of options on the Grayscale Ethereum Mini (ETH) ETF and Bitwise Ethereum ETF (ETHW)
"If options trading on the three Ethereum ETFs were permitted, investors would be able to gain additional exposure to Ethereum at low cost," NYSE American said in a statement.
"The introduction of options trading will provide investors with an investment tool that allows them to hedge their ETH products and positions," he said.
"The proposal will help meet the investment needs of investors," it said. Comments on the proposal are due to be submitted within 21 days.
NYSE American's proposed rule change comes as the exchange is looking to buy the only physical IPO listed on the exchange.
The NYSE American request applies only to the liquidity funds Grayscale and Bitwise. Meanwhile, the Nasdaq Board Options Exchange has filed a lawsuit against BlackRock Inc.
The move comes one day after the NYSE requested that options trading be allowed on the iShares Ethereum Trust (ETHA).
Like American's proposed rule changes, Nasdaq's request would require companies currently listed on the Nasdaq
The rules only apply to BlackRock's fund, which is the only Ethereum ETF.