The Options Clearing Corporation (OCC), the world's largest equity derivatives clearing organization, has announced that it will be trading spot Bitcoin$BTC
announced that it has started preparations for clearing and risk management of options based on exchange-traded funds (ETFs).
“The question is no longer ‘if,’ it’s ‘when,’” said Eric Balchunas, Bloomberg’s senior ETF analyst, noting that the listing process is usually fast-paced after OCC approval.
Nasdaq’s Head of ETP Listings Alison Hennessy told Bloomberg that Nasdaq is ready for listing and that iShares Bitcoin Trust (IBIT) options could be available as early as Tuesday, November 19. It was also noted on the OCC’s website that IBIT options could be listed on November 19.
The CFTC (Commodity Futures Trading Commission) announced in a statement released last Friday that options based on spot commodity ETFs will be cleared and cleared by the OCC and that this process will be carried out under the supervision of the SEC (Securities and Exchange Commission). The CFTC stated that it is “very likely” that these ETF shares will be considered “securities” and that these products will fall under the SEC’s supervision.
Following these statements, the OCC announced that it has completed the necessary preparations to initiate the listing, clearing and risk management processes of spot Bitcoin ETF options.
The requests for options listings for spot Bitcoin ETFs came after the SEC approved 11 spot Bitcoin ETFs in January. The SEC approved BlackRock’s iShares Bitcoin Trust (IBIT) application for listing and trading options on September 20. This approval is considered the first important step in the process and is expected to prompt other firms to prepare to offer similar products.