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US SEC Gives Green Light for Options Listing for Spot Bitcoin ETFs to NYSE

US SEC Gives Green Light for Options Listing for Spot Bitcoin ETFs to NYSE

Options are listed derivatives that give the holder the right to buy or sell an asset.

By Reuters | Updated: 21 October 2024 14:14 IST

US SEC Gives Green Light for Options Listing for Spot Bitcoin ETFs to NYSE

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The crypto sector’s valuation has reached $2.38 trillion as of October 21

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Highlights

The move will give investors an alternative way to hedge exposure to BTC
Last month, the SEC approved trading of options for BlackRock
Fidelity Wise Origin Bitcoin Fund and iShares Bitcoin Trust ETF approved

The US securities regulator has granted "accelerated approval" to 11 exchange-traded funds to list and trade options tied to spot Bitcoin prices on the New York Stock Exchange, according to a regulatory filing.

The Securities and Exchange Commission (SEC) had in January approved the Bitcoin ETFs to track Bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.

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Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF, the Grayscale Bitcoin Trust BTC and the iShares Bitcoin Trust ETF are among funds that received the approval on Friday.

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The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to Bitcoin - on a Bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency.

Options are listed derivatives that give the holder the right to buy or sell an asset, such as a stock or exchange-traded product, at a predetermined price by a set date.

The regulator last month approved listing and trading of options for asset manager BlackRock's, exchange-traded fund on the Nasdaq.

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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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