Market News

SEC Faces Pressure as VanEck Calls for Clarity on Bitcoin Options Trading

Matthew Sigel, the head of digital assets research at VanEck, has publicly criticized the SEC for its delay in responding to a proposal for options trading on their Bitcoin ETF.

The SEC has faced scrutiny for consistently postponing decisions on various digital asset ETFs despite a more crypto-friendly environment under the previous administration.

VanEck’s proposal, submitted by the Chicago Board of Exchange (Cboe), has been left unanswered since the initial review period ended, sparking frustration from Sigel.

In a recent social media post, he emphasized the importance of feedback from the SEC, lamenting the lack of transparency about the ongoing deliberations.

The approval of options trading for other Bitcoin ETFs has highlighted the inconsistencies in the SEC’s approach, leaving VanEck perplexed as to why their proposal is being treated differently.

As the demand for Bitcoin options trading continues to rise, the delayed response from the SEC may hinder the growth of this sector.

Meanwhile, Standard Chartered has projected a potential Bitcoin valuation of $500,000, driven by increasing investments from institutions and sovereign funds.

The bank cites SEC filings that reveal large investment managers accumulating Bitcoin-related positions, further bolstering confidence in its long-term prospects.

Investor appetite for Bitcoin is strengthening, and with more institutional players entering the market, price appreciation seems imminent.

Given these dynamics, clarity from the SEC on proposals like VanEck's could be essential in shaping the future of Bitcoin and its associated financial products.