The U.S. Commodity Futures Trading Commission has decided to hand over the responsibility of clearing Bitcoin ETF options to the Options Clearing Corporation. This move follows a statement issued by the Division of Clearing and Risk, indicating that the CFTC no longer sees the need to be involved in this process.
The agency believes that these options are likely to be considered securities, based on previous court rulings. As a result, the listing of these shares on SEC-registered national securities exchanges will not fall under the jurisdiction of the CFTC. The final decision on whether to list these options now rests with the OCC, which is the sole issuer of all equity options in the U.S.
Experts are optimistic about the imminent approval of Bitcoin ETF options by the OCC. Analyst Eric Balchunas predicts that the approval will come very soon, while market commentator Andrew notes that the CFTC’s decision has accelerated the process, which was initially expected to be completed by late Q1 2025.
Bitwise Invest’s Jeff Park is hopeful for a year-end approval but remains cautious about being overly optimistic. The recent approval by the SEC to list and trade Bitcoin ETF options on the New York Stock Exchange and the Chicago Board Options Exchange has paved the way for more liquidity in the market.
The SEC believes that options trading could bring better price efficiency and less volatility to Bitcoin ETFs, ultimately stabilizing the market and making it more transparent and efficient. Grayscale CEO Michael Sonnenshein and crypto influencer Mario Nawfal have both expressed excitement about the potential of Bitcoin ETF options to attract more institutional investors and deepen Bitcoin’s integration into traditional finance.
Following the CFTC’s approval of Bitcoin spot ETF options, institutional investors are eagerly anticipating the opportunities this will bring. BlackRock’s Bitcoin ETF, trading as “IBIT,” has generated significant interest, with many expecting more major players to enter the market. Bitcoin’s price has responded positively to these developments, breaking past the $91,000 resistance level and trading at $91,293, up 2.4% at present. As Bitcoin becomes increasingly integrated into mainstream finance, the future looks promising for the cryptocurrency and its investors.
