The United States Commodity Futures Trading Commission (CFTC) has announced approval of options for Bitcoin ETFs.
CFTC's Position on Bitcoin ETF Options
The CFTC issued a statement clarifying that their role in clearing these options is complete, as noted by ETF analyst Eric Balchunas, indicating the OCC's next steps. The CFTC emphasized that the listing of Bitcoin ETF options does not fall under its jurisdiction.
Optimism for Bitcoin Price Impact
Crypto executives are optimistic about the potential price impact of Bitcoin. Nick Forster, founder of Derive, highlighted the influence of options trading pointing to SoftBank's actions in 2020/2021. Forster added that a fixed supply of Bitcoin could yield a similar effect.
Approvals and Timelines
Balchunas noted that CFTC clearance marked the second hurdle following SEC approval. Despite the expected quick action from the OCC, end-year approval remains uncertain. Bitwise Invest's Jeff Park suggested that these options could be realized by early 2025.
With the CFTC's approval, Bitcoin ETF options are one step closer to trading. This event fuels optimism among market participants and could influence cryptocurrency price dynamics.
