Bitcoin Price Forecast: SEC Approves NYSE, CBOE Bitcoin Options ETFs – Is $70K Next?
Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...
Bitcoin price is gaining significant momentum, trading near $68,350 and hitting an intra-day peak of $68,955. The rally follows the SEC’s approval of Bitcoin ETF options, which has increased liquidity and spurred institutional investment.
This development, combined with rising interest in spot Bitcoin products like BlackRock’s ETF—attracting over $1.05 billion in five days—has driven the price surge. Moreover, the approval sets the stage for potential short squeezes, adding further pressure for upward movement.
On October 18, the U.S. Securities and Exchange Commission (SEC) approved applications for options trading on spot Bitcoin exchange-traded funds (ETFs) from the NYSE and CBOE.
This move greenlights options for 11 ETF providers, including BlackRock’s iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, and ARK21Shares Bitcoin ETF. The approval aligns Bitcoin ETF options with existing commodity-based ETFs, broadening trading opportunities.
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