Matthew Sigel, Head of Digital Assets Research at Vaneck, has criticized the US Securities and Exchange Commission (SEC) over a delayed response to a proposal to list options dealing with the company’s Bitcoin Spot ETF.
Notably, the Commission has continued to issue delayed responses to all latest digital asset-related ETF proposals/changes despite a crypt-friendly policy for the Donald Trump administration.
SEC delay is frustrating, offers no feedback, says Vanecks Sigel
April 3, 2025, Chicago Board of Exchange (CBOE) potted A proposed rule change for acting alternatives traded at Vanecke Bitcoin ETF (Hodl). For context, options that trade investors give the right to buy and sell an asset at a specific price before a particular date.
Following the resounding success for US Bitcoin Spot ETFs, Options Trading became a potential way for market expansion, with several asset managers who submitted applications to offer options to their respective ETFs.
In particular, Sec has granted approval For this request for several Bitcoin ETFs, including Fidelity Wise Origin Bitcoin Fund (FBTC), Blackrock Ishares Bitcoin Trust (Ibit), Grayscale Bitcoin Mini Trust (BTC) and Bitwise Bitcoin ETF (BITB), among others.
After the first 45-day review, however, the Commission has delayed a response to CBOE’s proposal to list trade options at Vanecke Bitcoin ETF (Hodl). In one X post On May 23, Matthew Sigel strongly criticized this decision, which he described as “frustrating” and did not offer investors.
While tagging Hester Pierce, the head of Sec’s Crypto Task Force, Sigel complained that the Commission had issued a delayed response while he did not give any comments or feedback along with this decision. VANECK EXEC declared the asset manager’s objection to this development while defendant to a user comment. He said.
This was the first decision date, so it has not been rejected, only delayed, although SEC’s first comments were dealt with. It is the lack of any feedback that is particularly difficult …
It is very worth noting that delayed responses from Sec have been a fairly common response for digital assets ETF-related proposals. The Commission can choose to wait for the final decision deadline, ie 240 days after the application, seen with Bitcoin Spot ETFS 2024. Sigel’s concern, however, derives from an absence of an explanation of this delayed decision, especially given that options such as trade have been approved for some other Bitcoin -site -etfs.
Bitcoin price overview
At the time of writing, Bitcoin deals with $ 108,349, which reflects a profit of 5.23% and 17.71% respectively in the last seven and 30 days, respectively.
Image from iStock, chart from tradingview
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