CFTC was previously known as the Commodity Futures Trading Commission. The American commission recently issued a notice. And their notification is intended to pave the way for alternate ways to identify bitcoin exchange-traded funds. However, it is believed that alternative products to the Bitcoin Spot ETF will be listed quickly. According to ETF analysts, all of these products will be listed, along with a list of their issues. The CFTC is losing its relevance. With CFTC clearance, Bitcoin ETF options pass the second hurdle.
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The CFTC's Division of Clearing and Risk revealed its position yesterday, and the commission has no role in clearing these options. The CFTC plays no role in these ETF options; instead, the Options Clearing Corporation, as the exclusive issuer of all equity options, clears and settles them. However, because it is now being debated and evaluated as an alternative to spot bitcoin ETFs, it could undoubtedly have a significant impact on bitcoin if implemented. We are aware that spot Bitcoin ETFs were approved early this year. Since then, other coin spot ETFs have been proposed and are vying for approval.
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Although spot bitcoin ETFs have been permitted since the beginning of the year, there has been a scramble to get bitcoin ETF options approved in recent months. And with that comes the expectation that spot bitcoin ETF options will be available very soon. However, according to an expert on the subject, this is the second hurdle that bitcoin ETF options may face after receiving permission from the SEC. In each of these transactions, the CFTC gives clearance, followed by the OCC. Even Bitcoin ETF alternatives are being approved quite swiftly, which may be sooner than you realize.
That is why, in mid-October, the SEC authorized petitions from the New York Stock Exchange and the Chicago Board of Options Exchange to list the long-awaited spot bitcoin ETFs.