According to PANews, US lawmakers are urging the Securities and Exchange Commission (SEC) to approve options based on Bitcoin spot ETFs. Typically, such options are approved a few days after the issuance of the spot ETFs. The move by the legislators is seen as a significant step towards the mainstream acceptance of Bitcoin and other cryptocurrencies.
The approval of Bitcoin spot ETF options by the SEC would provide investors with a new way to gain exposure to Bitcoin without the need to hold the underlying asset. This could potentially increase the liquidity of Bitcoin and make it more accessible to a wider range of investors.
However, the SEC has been cautious about approving Bitcoin ETFs due to concerns about market manipulation and lack of regulation. Despite this, the push by US lawmakers could potentially sway the SEC's decision in favor of approving Bitcoin spot ETF options.
This development comes at a time when Bitcoin and other cryptocurrencies are gaining increased attention from institutional investors and traditional financial institutions. The approval of Bitcoin spot ETF options could further boost the adoption of Bitcoin and potentially lead to a surge in its price.