In August 2024, Cboe Exchange proposed a rule change to the Securities and Exchange Commission (SEC) to allow the trading of options on an Ethereum-based product called the Fidelity Ethereum Fund. After reviewing the proposal and receiving comments, the SEC extended its review period to ensure ample time for consideration, setting a deadline of May 2, 2025, to make a decision on whether to approve or disapprove the rule change. The proposal had already been adjusted through an amendment to focus only on the Fidelity Ethereum Fund, limiting the scope and setting specific trading rules for the options.
Simple Explanation
In August 2024, a company wanted to let people buy and sell special bets called "options" based on a digital money pot called the Fidelity Ethereum Fund. The grown-ups in charge needed more time to think about whether to say yes or no to this idea, so they decided to wait until May 2025 to make their choice.