The U.S. Securities and Exchange Commission (SEC) has quickly approved 11 exchange-traded funds (ETFs) that allow trading options linked to Bitcoin prices on the New York Stock Exchange (NYSE). This approval comes after the SEC initially allowed Bitcoin ETFs to track Bitcoin earlier in the year, a major milestone for the cryptocurrency industry.
Some of the funds that received approval include the Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Grayscale Bitcoin Trust BTC, and iShares Bitcoin Trust ETF.
These options give investors an easy and fast way to manage their exposure to Bitcoin, offering an alternative for traders and institutions to hedge their cryptocurrency investments. Options allow buyers to purchase or sell assets like stocks or ETFs at a fixed price within a certain period.
The SEC had already approved BlackRock’s Bitcoin ETF options for trading on the Nasdaq last month.
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