Options trading for spot Bitcoin (CRYPTO: BTC) exchange-traded funds are all set to launch on Wall Street on Tuesday, marking a new era of the leading cryptocurrency’s integration into traditional finance.
What happened: Nasdaq head of ETP listings Alison Hennessy told Bloomberg they plan to list options for iShares Bitcoin Trust ETF (NASDAQ:IBIT) “as early as” Tuesday.
The approved options would be listed on the Nasdaq under the ticker symbol “IBIT,” paving the way for institutional investors and traders to hedge their exposure to Bitcoin more efficiently.
But why is it a big deal?
In a video posted on X Monday and reshared by Bloomberg’s senior ETF analyst Eric Balchunas, analyst and head of growth at Bitcoin custody firm Theya, Joe Consorti, said that the launch will open the “floodgates” for Bitcoin’s next evolution in financial markets.