Big news for Bitcoin! We’re one step closer to seeing spot Bitcoin ETFs widely available.
The CFTC Hands Over the Reins
The Commodity Futures Trading Commission (CFTC) just announced it’s stepping aside when it comes to approving Bitcoin ETF options. They’ve passed the baton to the Options Clearing Corporation (OCC). This is huge because the CFTC was a major hurdle. According to ETF expert Eric Balchunas, this means the OCC is likely to approve these ETFs very soon.
What This Means for Bitcoin ETFs
Spot Bitcoin ETFs let regular investors easily buy and sell Bitcoin without the complexities of directly owning it. This makes Bitcoin more accessible to a wider range of people. Getting these ETFs listed on major exchanges will likely boost Bitcoin’s trading volume and potentially its price.
The SEC’s Role
The Securities and Exchange Commission (SEC) has already given the green light to list these options on the CBOE and NYSE, citing the success of a similar Bitcoin trust.
When Can We Expect Bitcoin ETF Options?
Experts are buzzing with predictions. Some think we’ll see these options listed before the end of 2024, while others are more cautious, pointing to the first quarter of 2025 as a more realistic timeframe. Regardless, the general consensus is that it’s imminent.
What About Ethereum?
With Bitcoin ETFs potentially on the horizon, the conversation has naturally turned to Ethereum. Many are wondering if similar ETF options for Ethereum will follow suit. However, the SEC has indicated that Ethereum ETFs require further review and public comment before approval.
