The U.S. Securities and Exchange Commission (SEC) has approved BlackRock’s proposal to list and trade options for its spot bitcoin exchange-traded fund (ETF). This marks a significant step for the world’s largest asset manager, which has been greenlighted on an “accelerated basis” to offer options for its iShares Bitcoin Trust (IBIT).
In a filing posted Friday, the SEC indicated that Nasdaq ISE, LLC would list and trade the options. The commission also called for public comments on Amendment Nos. 4 and 5, which relate to the approval. However, the proposed rule change, modified by earlier amendments, has been approved.
BlackRock’s spot bitcoin ETF was among several approved by the SEC earlier this year. Firms such as Grayscale and Fidelity also received approval for their spot bitcoin ETFs in January. Several of these companies, including Bitwise, are now seeking to list and trade options for their funds.
8+ months after spot bitcoin ETFs launched…
Options trading has now been approved.
Better late than never. pic.twitter.com/piS9NZmjVQ
— Nate Geraci (@NateGeraci) September 20, 2024
“Eight months after spot bitcoin ETFs launched… options trading has now been approved,” Nate Geraci, president of the ETF Store, posted on X.
Bloomberg’s senior ETF analyst, Eric Balchunas, praised the move as a “huge win,” predicting that the decision would attract more liquidity to bitcoin ETFs.