Seyffart mentioned this at the Permissionless conference.
On the 9th (local time), Bloomberg Intelligence
"There are two options for Bitcoin ETFs in the U.S.," Seyffart, an analyst at the IRS Intelligence Group, said during a panel discussion at the conference.
It is likely to be launched by the first quarter of 2025,” he said. In September, the U.S. Securities and Exchange Commission (SEC) announced that Nasdaq had acquired BlackRock’s Bitcoin.
The company has approved the listing of options linked to the iShares Bitcoin Trust (IBIT), an exchange-traded fund.
The company is currently awaiting final approval from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC).
“Unlike the SEC rules, the CFTC and OCC do not have hard and fast deadlines, so they can extend it further if they wish,” Seifat explained.
An option is a contract that gives you the right to buy or sell an asset at a specific price, which traders call a "call" or a "put." In the United States,
If one of the parties to the contract is unable to perform, the OCC will step in and terminate the transaction.
Jeff Park, head of alpha strategy at Invest
Park said in a September 20th post on X (formerly Twitter) that if Bitcoin spot options were listed on a regulated US exchange, the OCC would
"This marks a groundbreaking development for the cryptocurrency markets and will provide an exciting opportunity for investors as we now have a system in place to protect cryptocurrencies from counterparty risk."
“For the first time, Bitcoin will have a regulated market where the OCC protects clearing members from counterparty risk. This is a step towards reducing Bitcoin’s artificial nominal exposure.”
"This means that companies can grow exponentially without the 'fundamental' risks that investors shy away from," he added.
2024/10/10 14:59 KST
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