SEC approves BlackRock's spot bitcoin ETF options listing
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The U.S. Securities and Exchange Commission has approved listing and trading of options for asset manager BlackRock's spot bitcoin exchange-traded fund on the Nasdaq. Options trading for BlackRock's fund iShares Bitcoin Trust has been approved with ticker symbol "IBIT", the regulator said in a notice on Friday. The index options - listed derivatives offering a quick and inexpensive way to amplify exposure to bitcoin - on a bitcoin index would give institutional investors and traders an alternative way to hedge their exposure to the world's largest cryptocurrency. Crypto Tracker The approval for listing and trading options tied to a bitcoin ETF represents another positive step for cryptocurrency, once considered a nascent asset class. Cryptocurrency has moved closer to mainstream acceptance since the launch of bitcoin ETFs earlier in the year. Options give holders the right to buy or sell an asset, such as a stock...