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It’s rumored that NASDAQ once owned bitcoin seized from dark web marketplace Silk Road and, by extension, customers of disgraced Japanese crypto exchange Mt. Gox. The story begins in December 2014, when Barry Silbert’s Bitcoin Investment Trust spent less than $17 million to acquire 48,000 bitcoins seized from the Silk Road at a US Marshals auction. That trust would later morph into the Grayscale Bitcoin Trust (GBTC), but in late 2015, there was a time when NASDAQ itself might have controlled those bitcoins. To understand the NASDAQ connection, we need to look back into Silbert’s career, specifically to 2004 when he founded SecondMarket . SecondMarket originally gained popularity before the creation of bitcoin as a way to acquire employees’ equity in non-public companies via a secondary market-like platform (hence, ‘SecondMarket’). It diversified considerably over the next nine years and by September 2013, Silbert had launched Bitcoin Investment Trust, a bitcoin-only fund for ...

Options trading for spot Bitcoin ETFs may be up after a Securities and Exchange Commission nod allowed multiple “non-security commodity” funds to list on U.S. exchanges. Nasdaq submitted 19b-4 filings with the SEC to amend listing rules allowing trading derivatives on ETFs underpinned by Bitcoin (BTC). Following the proposed rule changes, the SEC has acknowledged the requests, opening a 21-day window for public comments and feedback. ETF expert James Seyffart opined that the SEC could field a decision on these filings by the end of February; however the verdict may also be delayed until September. The SEC does not usually respond as quickly to these sorts of requests, Seyffart noted on X.  Absolute latest we get a decision is somewhere around ~Sept 21, 2024. — James Seyffart (@JSeyff) January 19, 2024 You might also like: Bitcoin ETFs surpass triple the combined daily volume of 500 ETFs launched in 2023 Options on spot BTC ETFs could unlock another channel fo...