US securities regulator grants 'accelerated approval' to 11 exchange-traded funds (ETFs) to list and trade options tied to spot Bitcoin prices on the New York Stock Exchange (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.

Eleven exchange-traded funds (ETFs) have been granted “accelerated approval” by the U.S. securities regulator to list and trade options tied to spot Bitcoin prices on the New York Stock Exchange (NYSE), a regulatory filing showed on Friday (Oct 18).

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

The options, which offer a quick and inexpensive way to amplify exposure to Bitcoin, would be based on a Bitcoin index, giving 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 ETF on the Nasdaq.

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