US SEC gives green light for options listing for spot bitcoin ETFs to NYSE
Technology
US SEC gives green light for options listing for spot bitcoin ETFs to NYSE
(Reuters) - The US securities regulator has granted "accelerated approval" to 11 exchange-traded funds to list and trade options tied to spot bitcoin prices on the New York Stock Exchange, according to a regulatory filing.
The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.
The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin - on a bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency.
Options are listed derivatives that give the holder the right to buy or sell an asset, such as a stock or exchange-traded product, at a predetermined price by a set date.
