Big good news! SEC approves BlackRock Bitcoin ETF "options trading", Bitwise is optimistic about restarting the bull market
I heard a big news that the SEC bosses in the United States nodded in agreement, allowing the giant BlackRock to set up a Bitcoin spot ETF option on the Nasdaq, with the trading code "IBIT". This means that our friends in the currency circle can spend less money to increase their investment in Bitcoin by buying IBIT options, and can also play risk hedging or speculation more flexibly.
However, don't be too happy too early. SEC's approval is only the first step, and it depends on the faces of the two bosses, OCC and CFTC. Options, to put it bluntly, give you a future right to buy and sell Bitcoin at an agreed price, but it is not an obligation. This thing can be used for hedging or gambling.
The people of Bitwise are also excited, saying that this may be the biggest good news in the currency circle in the second half of this year. Their boss Jeff Park tweeted that this is a great thing for volatility, it's simply great. Bloomberg analyst Eric also jumped out to praise it, saying that this is a major victory for Bitcoin ETF, and it is estimated that more ETFs will be approved in the future.
Jeff Park also wrote an article saying that options have a far-reaching impact on Bitcoin. With a regulated options market, Bitcoin can improve market efficiency by adding leverage. If the market experiences a Gamma squeeze, the price of Bitcoin may rise even more sharply. To put it bluntly, Bitcoin spot ETF options have made Bitcoin a commodity, and there is a decentralized market to support it, which is the first time in the financial industry.