SEC greenlights Bitcoin options trading by 11 companies
The U.S. Securities and Exchange Commission (SEC) has granted NYSE American LLC and Cboe Exchange, Inc. permission to list and trade options for multiple spot Bitcoin exchange-traded funds (ETFs).
The SEC granted expedited approval to allow options trading on the Fidelity Wise OriginBitcoin Fund, ARK21Shares Bitcoin ETF, InvescoGalaxy Bitcoin ETF, Franklin Bitcoin ETF, VanEckBitcoin Trust, WisdomTree Bitcoin Fund, GrayscaleBitcoin Trust, Grayscale Bitcoin Mini Trust, BitwiseBitcoin ETF, iShares Bitcoin Trust ETF, and ValkyrieBitcoin Fund.
This information was included in the NYSE's filing.
Similarly, Cboe also received expedited approval. It was reported that products such as Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Franklin Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree Bitcoin Fund, Grayscale Bitcoin Trust BTC, Bitwise Bitcoin ETF, iShares Bitcoin Trust ETF, and Valkyrie Bitcoin Fund were allowed to list and trade.
The Commission stated that this decision was “in accordance with Section 6(b)(5) of the Exchange Act,” which requires an exchange to have rules that prevent fraudulent and manipulative acts and perfect a free and open market mechanism. It also noted the importance of protecting investors and the public interest.
The SEC approved these spot Bitcoin ETFs in January. The agency first allowed the listing of options for the iShares Bitcoin Trust on Nasdaq ISE, LLC in September.
Eric Balchunas, Bloomberg’s senior ETF analyst, said the development was not surprising. “The SEC recently gave a similar approval to Nasdaq, so it’s not a surprise, but it’s still positive news,” he said. Balchunas added that he’s heard positive things about the process, but there’s no clear timeline for listing.
Stay tuned for new information.