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Cryptocurrency News Articles
The United States Securities and Exchange Commission (SEC) made a significant move by approving to list of the highly anticipated BlackRock spot Bitcoin Exchange Traded Fund (ETF) iShares Bitcoin Trust (IBIT) options on Nasdaq.
Sep 21, 2024 at 06:30 am
With this latest development, option traders can easily buy or sell IBIT options contracts.
The United States Securities and Exchange Commission (SEC) has approved the listing of options on the iShares Bitcoin Trust (IBIT) ETF on Nasdaq, according to a report by Nasdaq. This development will allow option traders to buy or sell IBIT options contracts.
Nasdaq stated in the report that the options on IBIT will provide investors with a hedging and risk management tool to manage exposure to the price of Bitcoin and Bitcoin-related products and positions. "Options on IBIT will be physically settled with American-style exercise," the report also noted.
Nasdaq also mentioned that options on IBIT will trade in the same manner as other exchange-traded fund (“ETF”) options and that options on IBIT will be subject to the Exchange rules.
Furthermore, Nasdaq highlighted that options on IBIT traded on the exchanges are subject to certain listing standards to protect investors and ensure a stable trading environment. "Exchange’s initial listing standards require, among other things, that the security underlying a listed option be “characterized by a substantial number of outstanding shares that are widely held and actively traded,” the report stated.
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