BlackRock to offer options on its bitcoin spot ETF

The US Securities and Exchange Commission has finally given BlackRock the green light to list and trade options on its bitcoin spot ETF, IBIT.

It has been just eight months since the SEC authorized bitcoin spot ETFs and other managers are still waiting for their applications to be approved by the agency.

It is important to remember that in January, the New York-based asset manager received approval to “launch iShares Bitcoin Trust ETF (IBIT), an exchange-traded product that offers investors direct exposure to bitcoin. The fund received approval along with nine other proposals, including from Fidelity, Ark Invest and Grayscale.”

BlackRock’s next strategic step was to seek to “list and trade IBIT options on the local market,” just as Grayscale and Bitwise, among others, have proposed “listing and trading options for their respective spot Bitcoin ETFs. Although these applications are still awaiting SEC approval.”

The SEC reported on Friday, September 20 in a filing the approval of BlackRock’s proposal on an “accelerated” basis. However, it clarified that it is simply an approval stage, since it still needs to be approved by the OCC (Office of the Comptroller of the Currency) and the CFTC (Commodity Futures Trading Commission), so that it can then be official.

M.Pino

Source: diariobitcoin

(Reference image source: Erling Løken Andersen in Unsplash)

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