U.S. securities regulators have given “accelerated approval” to 11 exchange-traded funds with options to list and trade on the New York Stock Exchange tied to spot Bitcoin prices, according to a regulatory filing.
The U.S. Securities and Exchange Commission (SEC) in January approved a Bitcoin ETF to track Bitcoin, a watershed moment for the world’s largest cryptocurrency and the broader crypto industry.
Which funds are approved?
Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Grayscale Bitcoin Trust BTC and iShares Bitcoin Trust ETF were among the funds approved on Friday.
Index options on the Bitcoin Index – a listed derivative offering a quick and cheap way to expand exposure to Bitcoin – will give institutional investors and traders another way to hedge their exposure to global Maximum Cryptocurrency Risks.
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 before a set date.
Regulators last month approved asset manager BlackRock’s exchange-traded funds to list and trade options on Nasdaq.