As a seasoned researcher who has been closely following the cryptocurrency market for over a decade now, I must say that this recent development with the CFTC clearing the way for spot Bitcoin ETF options is nothing short of groundbreaking. Having witnessed the rise and fall (and rise again) of several digital currencies, I can confidently say that if these BTC ETF options are indeed listed, we might just be on the cusp of a new era in the crypto world.
The obstacle facing Bitcoin ETFs has potentially been removed after the U.S. Commodity Futures Trading Commission (CFTC) stated they will no longer be involved in clearing options for Bitcoin ETFs. In a document dated November 15th, the CFTC, via their Division of Clearing and Risk, passed on the decision-making authority to the Options Clearing Corporation (OCC).
As per ETF analyst Eric Balchunas’ assessment, it appears that the Office of the Comptroller of the Currency (OCC) is currently facing pressure and is likely to list these Exchange Traded Funds (ETFs) in the near future. At present, only the OCC possesses the authority to oversee the listing process for ETF options.
If these products receive approval, it would open up a path for Wall Street to trade Spot Bitcoin Exchange-Traded Funds (ETFs), thereby boosting trading volumes and possibly causing an increase in their prices.
A Look At Spot Bitcoin ETFs In The US
Instead of typical financial assets, these Bitcoin Spot ETFs combine the standard traits of options trading with the fluctuations inherent in cryptocurrencies. These ETFs make it possible for regular investors to engage with the crypto market at minimal costs. What sets them apart is that they offer individual traders the opportunity to swiftly buy and sell their shares directly on the open market.
BOOM: The CFTC just dropped a notice clearing the way for spot bitcoin ETF options to be listed. This is the second hurdle they needed to clear after the SEC. Ball now in OCC’s court and they are into it, so they’ll prob list very soon.
— Eric Balchunas (@EricBalchunas) November 16, 2024
Based on the SEC’s decision, the application for listing these options on both the CBOE and NYSE has been granted. This approval comes as a result of the SEC finding Nasdaq’s handling of the iShares Bitcoin Trust (IBIT) to be successful.
Experts view the CFTC advisory as a significant leap forward for Bitcoin Exchange-Traded Funds (ETFs) and the entire crypto market. Should spot Bitcoin ETF options become available, they are likely to draw in more investors, thereby lending greater credibility to the status of digital currencies.
Bitcoin ETF Options To Be Listed Soon?
Experts and analysts believe that Bitcoin ETF alternatives are likely to become available shortly. As per Jeff Park of Bitwise Invest, these BTC ETF options are anticipated to significantly influence the cryptocurrency market.
Park anticipates the OCC to swiftly respond to this request, but he estimates the deadline for listing to be around the end of 2004. Nevertheless, he remains optimistic about the flexibility of approval, suggesting that unexpected events could potentially alter the timeline.
According to well-known Bitcoin analyst, British Hodl, it’s anticipated that the approval and listing could occur during the first quarter of 2025.
Spot ETH Options, Next?
As there’s an increasing likelihood of Bitcoin ETF options being listed, several experts in the field are proposing a similar move for the Ethereum blockchain. On Twitter, user Austin inquired whether Ether might also take this route.
Austin pondered over whether he could resubmit an old application today, given that Donald Trump has been recently re-elected as the next President of the United States.
The Securities and Exchange Commission (SEC) has made a decision regarding Ethereum Exchange-Traded Funds (ETFs), stating that they require further expert analysis and public feedback. As stated by the agency, any transformation of Ethereum into new financial products must adhere to the nation’s securities laws.
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2024-11-18 11:42