The U.S. Securities and Exchange Commission (SEC) has granted approval for the listing and trading of options on the Ishares Bitcoin Trust (IBIT), a product by Blackrock. This decision introduces a new financial instrument aimed at providing investors with the ability to hedge and manage risk associated with bitcoin exposure. These options will be physically settled and follow American-style exercise, meaning they can be exercised at any time before expiration. As with other exchange-traded fund (ETF) options, they will be subject to rigorous surveillance to ensure compliance and prevent market manipulation. The move is a notable milestone, highlighting the increasing acceptance of cryptocurrency-related products within regulated financial markets.