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Cryptocurrency News Articles
The United States Securities and Exchange Commission (SEC) gave Nasdaq the go-ahead to list and trade shares of options
Sep 21, 2024 at 05:27 am
In a Sept. 20 notice, the SEC approved options trading for the iShares Bitcoin Trust under the ticker symbol IBIT on Nasdaq.
The United States Securities and Exchange Commission (SEC) has approved Nasdaq’s application to list and trade options for BlackRock’s spot Bitcoin exchange-traded fund (ETF).
In a Sept. 20 notice, the SEC announced the approval of options trading for the iShares Bitcoin Trust under the ticker symbol IBIT on Nasdaq. According to Nasdaq, the exchange will allow trading for options on the Bitcoin BTC $62,946 ETF “in the same manner” as other ETF options, subject to the same rules.
BTC
$62,946
“Options on IBIT will be physically settled with American-style exercise,” the SEC notice stated. “The Exchange stated that options on IBIT will be subject to the Exchange’s respective initial and continued listing standards. The 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 approval comes after Nasdaq filed an application with the SEC in May to offer options trading for the IBIT Bitcoin ETF on the exchange. At the time, Nasdaq said it would trade the options “in the same manner” as other ETF options, subject to the exchange's rules.
The iShares Bitcoin Trust ETF started trading on the New York Stock Exchange Arca on Oct. 21, 2021, and quickly became one of the most popular ETFs in the United States. The ETF provides investors with exposure to the price of Bitcoin without having to directly purchase, store or maintain the cryptocurrency.
Nasdaq is the second largest stock exchange in the world by market capitalization of listed companies, and it is also home to some of the most actively traded technology stocks in the United States. The addition of options trading for the IBIT Bitcoin ETF could further increase the liquidity and trading volume of the fund.
This is a developing story and further information will be added as it becomes available.
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