On September 21, 2024, the SEC approved the listing and trading of options for BlackRock’s spot Bitcoin ETFs, marking a significant step in the introduction of new financial instruments in the cryptocurrency market. Bloomberg exchange analyst Eric Balchunas emphasized that this is only one step in the approval process, and additional approvals from the OCC and CFTC will be required for the final listing.

Extension for Ethereum ETF Applications

At the same time, the SEC announced an extension of the deadline for reviewing applications from BlackRock and Bitwise for options based on spot Ethereum ETFs until November. While the regulator approved Bitcoin-based options on September 21, more time will be needed to review Ethereum-based applications, SEC representatives clarified.

“We expect options for products from other companies to be approved soon,” noted the expert.

Market Impact

These events highlight the growing interest of institutional investors in cryptocurrency instruments and the regulators’ efforts to manage their spread. Despite delays in approving Ethereum ETFs, the approval of Bitcoin-based instruments reflects a positive trend in the development of financial markets oriented towards cryptocurrencies.