Galaxy: BlackRock Spot Bitcoin ETF Options Still Need US CFTC and OCC Approval, Trading Schedule Still Undetermined

On September 28, Galaxy posted on the X platform that the SEC had previously approved Nasdaq's listing and trading of spot Bitcoin ETF options, although approvals from the CFTC (U.S. Commodity Futures Trading Commission) and the OCC (U.S. Office of the Comptroller of the Currency) are still required, and there is currently no firm timetable for this to happen, so the exact date of commencement of trading is still pending. Spot Bitcoin ETF options trading is said to have certain restrictions, such as strict monitoring of market manipulation and clear position limits, and Nasdaq ISE plans to work with other exchanges to integrate these requirements with existing monitoring systems.

Galax added that in the long run, spot bitcoin ETF options could stabilize bitcoin's volatility, boost investor confidence and deepen market liquidity, and coupled with Bank of New York Mellon's recent launch of a digital asset custodian service, bitcoin's institutionalization is accelerating.