The U.S. Commodity Futures Trading Commission (CFTC) has announced a notice “paving the way” for spot Bitcoin exchange-traded fund (ETF) options. Analysts are now speculating that these products could be listed soon.
“The ball is now in the OCC's court and they're so into it that a listing could happen soon,” ETF analyst Eric Balciunas wrote in the X on Nov. 15. . post.
CFTC steps back from further “role”
“Here. We. Go.” ETF Analyst James Seifert added.
CFTC November 16th statement The Division of Clearing and Risk (DCR) announced the position that “the CFTC has no further role in the clearing of these options.”
The CFTC said the listing of Spot Bitcoin ETF options “does not implicate” the CFTC's jurisdiction. Source: CFTC
“These ETF options are cleared and settled by an options clearing company, which is the sole issuer of all equity options,” the report states.
Nick Foster, founder of Deriv, pointed this out in the Nov. 15 issue of X magazine. post Investment firm SoftBank said it “literally lit up the Nasdaq in 2020/2021 by offering options on multiple multi-hundred billion dollar stocks.”
“If someone tries to do that with a fixed supply of BTC…be careful,” Forster argued.
Bitcoin ETF options are coming “sooner than you think”
Balchunas explained that this is a “second hurdle” for spot Bitcoin ETF options that needs to be “cleared” after receiving Securities and Exchange Commission approval.
said Jeff Park, Head of Alpha Strategy at Bitwise Invest. said The CFTC gave its approval, and then the OCC said, “Bitcoin ETF options are coming sooner than you think.”
Related: Goldman Sachs owns $710 million in Bitcoin ETF – SEC filing
Park said he expects the OCC to act “very soon” and is “optimistic” until the end of 2024, but he doesn't think approval by the end of the year is foolproof at this stage. He explained that he had not done so.
“I wouldn't short the odds,” Park added.
British Bitcoin critic Mr. Hoddle said Their 76,000 X followers said, “Q1 is my estimate.”
On October 18, the SEC approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list their long-awaited Spot Bitcoin ETF options.
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