The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of options on spot exchange-traded funds based on the leading cryptocurrency from BlackRock in an expedited manner.
Bloomberg analyst Eric Balchunas speculated that options for products from other companies may soon be approved as well.
Important note: This is just one stage of approval, the OCC and CFTC has to approve as well before they officially list. The other two don’t have a ‘clock’ so not sure when they’ll be approved. A big step tho nonetheless that the SEC came around.
— Eric Balchunas (@EricBalchunas) September 20, 2024
“A huge win for bitcoin ETFs as it will attract more liquidity, which in turn will bring in more major players,” he stated.
The expert emphasized that this is just one stage of approval. Further endorsements from the OCC and the CFTC are required before official listing.
“More than eight months after the launch of spot bitcoin ETFs, options trading has been approved. Better late than never,” wrote The ETF Store President Nate Geraci.
8+ months after spot bitcoin ETFs launched…
Options trading has now been approved.
Better late than never. pic.twitter.com/piS9NZmjVQ
— Nate Geraci (@NateGeraci) September 20, 2024
Back in January 10, the SEC approved all 11 applications for spot bitcoin ETFs.
Read more about the impact of this instrument on the cryptocurrency market in ForkLog’s article: