The U.S. Commodity Futures Trading Commission (CFTC) announced its withdrawal from the clearing process for Bitcoin ETF options.
CFTC's Transfer of Authority
The CFTC has transferred the clearing authority for Bitcoin ETF options to the Options Clearing Corporation (OCC). The OCC now holds the final authority to decide whether these options will be listed.
Experts and Market Reactions
Experts believe the OCC's approval could come soon. ETF analyst Eric Balchunas predicts this approval will arrive 'very soon.' Market participants are optimistic about the accelerated approval process, initially expected no earlier than the end of Q1 2025.
Impact on Cryptocurrency Market
The delegation of authority has positively impacted the market. The introduction of Bitcoin ETF options is expected to increase liquidity and stabilize the market. Bitcoin's price rose to $91,293, 2.4% above its previous level.
The transfer of Bitcoin ETF options clearing authority is likely to reshape the cryptocurrency market, enhancing its transparency and efficiency.
