The U.S. Securities and Exchange Commission (SEC) has approved a rule change, allowing Nasdaq International Securities Exchange to list and trade options for BlackRock's iShares Bitcoin Trust (IBIT), according to PANews. This approval is a pivotal moment for expanding Bitcoin-related derivatives, offering investors new ways to manage their exposure to Bitcoin, the world’s largest cryptocurrency.
BlackRock has been seeking approval for such listings since at least March, following the U.S. launch of several Bitcoin-related ETFs. The SEC's approval came after several amendments by Nasdaq ISE, aimed at mitigating concerns over market manipulation and excessive risk in the emerging cryptocurrency options space.
The approved IBIT options will be physically settled with an American exercise style, providing investors hedging opportunities for Bitcoin exposure. Despite concerns about cryptocurrency derivatives, the SEC cited Nasdaq's real-time monitoring and cross-market surveillance agreements with the Chicago Mercantile Exchange as sufficient safeguards against potential manipulation.
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