Crypto News – Nasdaq and the Cboe’s bids to start options trading on Bitcoin ETFs were accepted by the SEC on January 19.
Nasdaq and Cboe Get SEC Approval to Trade BTC ETF Options
Nasdaq submitted a rule change request to list and trade options on the iShares Bitcoin Trust, managed by BlackRock. In order to trade options on “ETPs (exchange-traded products) that Hold Bitcoin,” the CBOE applied. Six of the ten Bitcoin ETFs that the SEC just approved were introduced by Cboe.
Following the SEC’s approval the day before, BTC ETFs started trading on the Nasdaq and Cboe on January 11. The BTC ETFs continued to track the price of BTC “as expected,” according to a CNBC interview with Catherine Clay, executive vice president of Cboe.
Clay Says She Doesn’t Know If They Will Get Approval
Options are “the next logical step on the ETFs,” according to Clay. She claimed that trading BTC ETF options will improve the products’ usefulness and reduce risk. Options would provide more hedging methods and cost reductions, according to a filing from Nasdaq. According to Clay, Cboe requested authorization to list choices “last week.”
We’re really in this holding pattern to see what the regulators will do with our filing and other exchanges’ filings as well. […] It’s really difficult to know if we will even see approval.
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