The U.S. Securities and Exchange Commission (SEC) has given the green light for the listing and trading of options for BlackRock Inc.’s (NYSE:BLK) spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF).
What Happened: The approved options will be listed on the Nasdaq under the ticker symbol “IBIT.” This move allows institutional investors and traders to hedge their exposure to bitcoin more efficiently.
Options trading provides a cost-effective way to amplify exposure to bitcoin, offering an alternative method for managing investments in the world’s largest cryptocurrency. The approval marks another significant step for cryptocurrency, which has been gaining mainstream acceptance.
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Full story available on Benzinga.com