NYSE American LLC has officially announced that it is withdrawing its proposal to list and trade options on two spot Bitcoin exchange-traded funds (ETFs). The ETFs in question are the Bitwise Bitcoin ETF and the Grayscale Bitcoin ETF. The proposal was initially submitted to the Securities and Exchange Commission (SEC) for approval.
This move signifies a setback for the Bitcoin ETF options market in the United States. The withdrawal highlights ongoing regulatory hurdles faced by cryptocurrency financial products in gaining market entry and acceptance.