(Reuters) – The U.S. securities regulator has granted “expedited approval” to 11 exchange-traded funds to list and trade options tied to spot bitcoin prices on the New York Stock Exchange, according to a filing with the regulator.
The Securities and Exchange Commission (SEC) had in January approved bitcoin ETFs to track bitcoin, in what was a watershed moment for the world’s largest cryptocurrency and the broader crypto industry.
Fidelity Wise Origin Fund, the ARK21Shares Bitcoin ETF, the Invesco Galaxy Bitcoin ETF, the Grayscale Bitcoin Trust BTC and the iShares Bitcoin Trust ETF are among the funds that received approval on Friday.
The index options – listed derivatives that offer a quick and cheap way to increase exposure to bitcoin – on a bitcoin index would provide institutional investors and traders with an alternative way to hedge their exposure to the world’s largest cryptocurrency.
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 on a specified date.
The regulator last month approved the listing and trading of options for asset manager BlackRock’s (NYSE:) exchange-traded fund on the Nasdaq.
