TheUSSecuritiesandExchangeCommissionapprovedNYSEandCBOE’sbidstolistoptionsforbitcoinexchange-tradedfunds.
Intwostatements,theSECgrantedapprovaltotheproposedrulechanges,clearingthewayforoptions.TheproposedoptionsaretiedtobitcoinETFsprovidedbyFidelity,Grayscale,VanEckandothers.
Bothproposedrulechangesweregranted“onanacceleratedbasis,”perthenotices.ThemoveechoedthelanguageusedforNasdaq’sapprovalofIBIToptionsinSeptember.
SpeculationaboutthesuccessofoptionsproposalsbeganshortlyaftertheapprovalofspotETFs.ThematterseemedindoubtwhenreportssurfacedthissummerthattheNYSEhadwithdrawnitsproposedrulechange.Asexpected,theSECsoughtmoretimetoconsidertheproductsastheprocessmovedalong.
Withtheapprovals,theSECcontinuestowidenmarketaccesstocrypto-tiedfinancialproductsonmajorexchanges.Thusfar,2024hasseentheapprovalofspotETFsforbothbitcoinandether,aspreviouslyreported.
Whethertoday’sapprovalssignalabroaderregulatoryseachangeintheUSremainstobeseen.TheSECisafrequenttargetofindustrycriticism,anditschair,GaryGensler,hasdrawncontinuedscornandpromisesfromoneUSpresidentialcandidate,RepublicanDonaldTrump,tofirehimshouldheprevailinNovember.
Bitcoinistradingaround$68,400onCoinbaseasofpresstime,upmorethan1%ontheday,perTradingViewdata.
blockworks.co