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Readmore: Best Bitcoin ETFs To Buy In 2024
This extension was announced in a filing made on Thursday, giving the SEC more time to evaluate the proposal.
This delay comes as part of the SEC’s extended timeline for deciding on the trading of options tied to ETFs directly investing in Bitcoin. The regulator also deferred a filing from Cboe Exchange Inc. regarding options linked to ETFs holding Bitcoin.
Options trading on these ETFs serve as a derivatives tool for traders, enabling them to make predictions on future gains or hedge against potential losses.
Nasdaq filed the request to list and trade BlackRock spot Bitcoin ETF options in January, following the SEC’s approval of Bitcoin-backed funds from issuers such as BlackRock, Fidelity, and ARK 21Shares. The SEC has already received feedback from five individuals supporting the approval of BlackRock spot Bitcoin ETF options trading on during the comment period.
This delay in decision follows the SEC’s approval of 11 spot Bitcoin ETFs in January, marking a significant shift after years of denying similar applications.
With exchanges eager to facilitate options trading on these products, investors can gain exposure to digital assets without directly purchasing and storing cryptocurrencies themselves. BlackRock’s iShares Bitcoin Trust has particularly seen substantial success, attracting record inflows and rapid trading of its shares compared to other similar products.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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