BlackRock Spot Bitcoin ETF Options Now Listed on Nasdaq, SEC Approval
The United States Securities and Exchange Commission (SEC) has made a major move by approving the listing of the highly anticipated BlackRock spot Bitcoin Exchange Traded Fund (ETF) iShares Bitcoin Trust (IBIT) options on Nasdaq. With this new development, options traders can easily buy or sell IBIT options contracts.
Establishment of IBIT options
In the report, the exchange stated that options on IBIT provide investors with a hedging and risk management tool to manage their exposure to bitcoin and bitcoin-related products and positions. The report added, “Options at IBIT are physically adjusted to American-style exercise.
Nasdaq added that options on IBIT trade like other exchange-traded fund (“ETF”) options, and options on IBIT are subject to exchange rules.
List of criteria for IBIT options
Additionally, Nasdaq noted that options traded on IBIT exchanges require certain levels of listing to protect investors and ensure a stable trading environment. According to the report, “the initial listing stages of the exchange will require, among other things, that the security under the listed option be defined as “overwhelmingly held and actively traded outstanding shares.”
