SEC Approves 7RCC Bitcoin ETF; CFTC Clears Path for Spot ETF Options with OCC Preparations

Nov 18, 2024, 04:39 PM

The U.S. Securities and Exchange Commission (SEC) has approved the 7RCC Bitcoin ETF for listing on the NYSE Arca, marking a significant milestone for Bitcoin exchange-traded funds (ETFs). This approval coincides with the Commodity Futures Trading Commission (CFTC) clearing the path for spot Bitcoin ETF options, indicating a shift towards greater regulatory acceptance of cryptocurrency investment products. The CFTC's advisory confirmed that the Options Clearing Corporation (OCC) will oversee the clearance of these options under SEC supervision. This development follows the SEC's earlier approval of Bitcoin ETFs in January 2024, suggesting that retail traders may soon have more opportunities to engage with Bitcoin ETFs as the market anticipates an imminent launch of these options.