The US Securities and Exchange Commission (SEC) has granted Nasdaq permission to list and trade options on BlackRock's iShares Bitcoin fund.
According to details shared in an official filing on September 20, the SEC approval comes after a lengthy review process that began on January 9, 2024. That’s when Nasdaq initially filed its proposal to trade options on exchange-traded products.
Nasdaq has followed up its proposal with multiple revisions, starting on January 11. In the following months, the exchange submitted additional revisions and information regarding IBIT and other Bitcoin-based ETPs.
Cryptocurrency analysts say the decision is optimistic
Reacting to the SEC’s decision, several prominent crypto traders and analysts shared their opinions on X. Crypto trader Ash Crypto tweeted that this was extremely optimistic.
Senior ETF analyst Eric Balchunas also shared details about the approval on X. Balchunas tweeted his assumption that others will be approved shortly.
“I think others will be approved in the short term,” Balchunas added, calling it a “big win” for Bitcoin ETFs “because it will attract more liquidity, which in turn will attract more big players.”
Summary:
The SEC has approved Nasdaq to list and trade options on BlackRock's iShares Bitcoin fund.
The decision comes after a lengthy review process that began in January 2024.
Cryptocurrency analysts see this as a positive signal for the Bitcoin market.
This decision could attract more liquidity and large investors into the Bitcoin market.
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