(Reuters) - U.S. SEC Grants 'Accelerated Approval' to 11 Bitcoin ETFs to List and Trade Options on NYSE

The Securities and Exchange Commission (SEC) had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.

The U.S. Securities and Exchange Commission has granted "accelerated approval" to 11 exchange-traded funds to list and trade options tied to spot bitcoin prices on the New York Stock Exchange, according to a regulatory filing on Friday.

The SEC had in January approved the bitcoin ETFs to track bitcoin, in what was a watershed for the world's largest cryptocurrency and the broader crypto industry.

Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF, the Grayscale Bitcoin Trust BTC and the iShares Bitcoin Trust ETF are among funds that received the approval on Friday.

The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin - on a bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency.

Options are listed derivatives that give the holder the right to buy or sell an asset, such as a stock or exchange-traded product, at a predetermined price by a set date.

The regulator last month approved listing and trading of options for asset manager BlackRock's exchange-traded fund on the Nasdaq.

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