Originally published on: November 16, 2024
The road to listing spot Bitcoin exchange-traded fund (ETF) options has just cleared a major hurdle with the recent announcement by the United States Commodity Futures Trading Commission (CFTC). Analysts are buzzing with speculation that these products could hit the market very soon.
ETF expert Eric Balchunas expressed his optimism in a recent Xpost, stating, “Ball now in OCC’s court, and they are into it, so they’ll prob list very soon.” James Seyffartadded chimed in, saying, “Here. We. Go.”
In a statement on November 16, the CFTC’s Division of Clearing and Risk (DCR) clarified their stance that they do not have any further role in the clearing of these options. The options are set to be cleared and settled by the Options Clearing Corporation, the sole issuer of all equity options.
Industry leaders believe that the approval of spot Bitcoin ETF options could have a significant impact on the price of BTC. Derive founder Nick Forster highlighted the potential, drawing parallels with SoftBank’s impact on the Nasdaq with options trading.
Bitwise Invest’s Jeff Park emphasized the imminent nature of Bitcoin ETF options, stating that approval could come sooner than expected with the OCC now in the queue.
While many are hopeful for a year-end approval, some, like Park, exercise caution. British Hodl, a Bitcoin commentator, estimated a timeline of Q1 for the launch of these options.
With the SEC’s recent approval of applications from the NYSE and CBOE, the path seems clear for the long-anticipated spot Bitcoin ETF options. Stay tuned for more updates on this exciting development in the cryptocurrency market.
