The U.S. Securities and Exchange Commission (SEC) has granted "accelerated approval" for 11 exchange-traded funds (ETFs) to list and trade options based on spot bitcoin prices on the New York Stock Exchange, according to a regulatory filing.
In January, the SEC had already approved bitcoin ETFs to track the price of bitcoin, marking a significant moment for both the cryptocurrency and the broader crypto industry.
Among the funds receiving approval on Friday are the Fidelity Wise Origin Bitcoin Fund (FBTC.Z), ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF (BTCO.Z), Grayscale Bitcoin Trust BTC (GBTC.P), and iShares Bitcoin Trust ETF (IBIT.O).
The newly approved index options—listed derivatives that provide a cost-effective way to increase exposure to bitcoin—offer institutional investors and traders an alternative method to hedge their positions in the world’s largest cryptocurrency.
Options are financial derivatives that grant the holder the right to buy or sell an asset, such as a stock or exchange-traded product, at a specific price within a defined time frame.
Last month, the SEC also approved the listing and trading of options for BlackRock’s (BLK.N) bitcoin ETF on the Nasdaq.
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