The United States Commodity Futures Trading Commission (CFTC) has given the green light for spot Bitcoin ETF options, clearing a significant regulatory hurdle. ETF analyst Eric Balchunas highlighted that the next step lies with the Options Clearing Corporation (OCC), predicting these options could list “very soon.”
The CFTC’s Nov. 16 announcement confirmed that its Division of Clearing and Risk (DCR) no longer has a role in clearing these options. As the sole issuer of equity options, the OCC will handle their clearing and settlement.
This development has sparked optimism in the crypto space, with industry executives anticipating a notable impact on Bitcoin’s price. Derive founder Nick Forster likened the potential influence to SoftBank’s options strategy that boosted the Nasdaq in 2020-2021, suggesting a similar effect on Bitcoin’s fixed supply.
The approval process has already cleared the SEC, with analysts like Balchunas and Bitwise’s Jeff Park expecting swift action from the OCC. While year-end approval remains uncertain, many commentators, including British Hodl, anticipate these options could launch by Q1 2025.The SEC had earlier approved applications from the NYSE and CBOE to list spot Bitcoin ETF options, bringing these highly anticipated financial products closer to market.
Source: Cointelegraph
