SEC Fully Approves Bitcoin Spot ETF Options for Trading
The U.S. Securities and Exchange Commission (SEC) approved the listing and trading of the iBIT Bitcoin spot ETF options, also known as futures options, on Nasdaq in September. Furthermore, on 10/18, it accelerated the approval of the remaining ETF options for listing and trading on NYSE and Cboe exchanges.
How will the listing of iBIT options by the SEC impact Bitcoin?
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According to SEC documents here, on 10/18, the SEC has accelerated the approval of the listing of other Bitcoin spot ETF options and allowed them to be listed on multiple exchanges simultaneously. The details are summarized in the table below, with all Bitcoin spot ETFs, including Grayscale's split Mini Bitcoin Trust BTC, and BlackRock's IBIT listed on three exchanges simultaneously.
Bloomberg analyst Eric Balchunas stated that since BlackRock's Bitcoin spot ETF IBIT options were already approved for listing on the Nasdaq exchange, this approval is not a big surprise. Nevertheless, it is good news as the SEC is the biggest obstacle for such approvals.
Balchunas previously mentioned that this product still requires approval from the currency regulatory agency OCC and the Commodity Futures Trading Commission CFTC, both of which do not have a specific timeline. However, he also mentioned hearing good news about the related processes, although the exact listing date remains unclear.
Last night, Bitcoin surged to 69K, reaching its highest point since August. Bitcoin spot ETFs also showed sustained net inflows this week. Whether it can challenge the historical high of $73,798 set in March this year will require further observation.