Most recently, the US Securities and Exchange Commission (SEC) started clearing options on to spot bitcoin prices for 11 exchange-traded funds (ETFs) on the New York Stock Exchange. The SEC had already given the nod to bitcoin ETFs in January. All this is monumental news for bitcoin and for the cryptocurrency sector. Among those funds are the Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Grayscale Bitcoin Trust and the iShares Bitcoin Trust ETF.
Such bitcoin index options can provide an inexpensive and efficient way to boost exposure to bitcoin for institutional investors and traders, and provide a new hedging tool for market moves for bitcoin. The development comes after a spate of approvals by the SEC for listing and trading options for the BlackRock ETF on the Nasdaq, providing further, and multiple, financial instruments for cryptocurrency-hungry investors.
Source: Reuters
