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The US Securities and Exchange Commission has approved NYSE and CBOE bids for listing bitcoin exchange-traded fund options.
In two separate statements, the SEC gave its approval for the proposed rule changes and cleared the way to options. The options proposed are linked to bitcoin ETFs offered by Fidelity Grayscale VanEck, and others.
Both rule proposals were granted “on an accelerated basis,” According to the notices. This move was similar to the Nasdaq approval of IBITs in September.
Soon after the approval for spot ETFs, speculation began about the future of options. The issue seemed to be in doubt after reports this summer surfaced that the NYSE retracted its proposed rule change. The SEC, as expected, wanted more time to review the products.
The SEC has continued to expand market access for crypto-related financial products by approving them on major exchanges. So far, spot ETFs have been approved for bitcoin and Ethereum in 2024, as reported previously.
It remains to be determined whether today’s approvals are a sign of a wider regulatory sea change in America. The SEC, which is frequently criticized by the industry, is headed by Gary Gensler. Donald Trump, a Republican candidate for US president, has repeatedly slammed him and promised to fire him if he wins in November.
As of the time this article was published, Bitcoin was currently trading at $68,400, up over 1% from yesterday, according to TradingView data.
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