CFTC which is originally known as Commodity Futures Trading Commission. This American commission has recently issued a notice. And their notice is to clear the way for alternatives to spot bitcoin exchange-traded funds. However, it is assumed that alternative products to the Bitcoin Spot ETF may be listed immediately. That's why all these products will be listed, along with a list of the problems they have, ETF analysts said. CFTC recedes from any role. Bitcoin ETF Options Pass Second Hurdle With CFTC Clearance.
The CFTC's Division of Clearing and Risk's position was announced yesterday and the commission has no role in clearing these options. These ETF options have no role for the CFTC and are instead cleared and settled by the Options Clearing Corporation as the sole issuer of all equity options. However, as it is currently being discussed and considered as an alternative to spot bitcoin ETFs, it could naturally have a major impact on bitcoin if implemented. We know that spot bitcoin ETFs were approved earlier this year. Since then various coin spot ETFs have been discussed and are racing for approval.
Although spot bitcoin ETFs have been approved since the beginning of this year, there has been a race to get bitcoin ETF options approved in recent times. And with that comes the assumption that spot bitcoin ETF options could be coming very soon. But an expert on this claims that this is the second hurdle spot bitcoin ETF options may need to clear once they receive approval from the Securities and Exchange Commission. In all these cases the CFTC provides clearance and the OCC is next in line. Even Bitcoin ETF options are waiting to be approved very quickly which may be sooner than you think.
But the OCC must act very quickly to approve or implement them. Otherwise there is a risk of delay. However, it is expected that the approval may be received by the end of this year i.e. around the month of December. That is why the OCC must act very quickly. That's why, in mid-October, the SEC approved applications from the New York Stock Exchange and the Chicago Board Options Exchange to list the long-awaited options for spot bitcoin ETF.
