The post SEC Approves Options on BlackRock Bitcoin ETF, Marking Key Milestone appeared on BitcoinEthereumNews.com.

The SEC’s approval of options on BlackRock’s Bitcoin ETF could drive more liquidity and innovation in cryptocurrency financial products. BlackRock’s updated custodial agreement with Coinbase ensures faster withdrawals, enhancing trust among institutional investors. Experts predict the SEC’s decision may trigger a wave of Bitcoin-related ETF filings, introducing new risk management strategies. The U.S. Securities and Exchange Commission (SEC) has given the go-ahead for options on the BlackRock Bitcoin Exchange Traded Fund (ETF). Sasha Hodder, a cryptocurrency lawyer, announced the news, highlighting the positive potential of regulated leverage on a supply-constrained commodity like Bitcoin. The SEC approved options on the BlackRock Bitcoin ETF. This is the first time the financial world will see regulated leverage on a supposedly supply constrained commodity. Bullish. — Sasha Hodder (@sashahodler) September 23, 2024 Tony Edward, host of the Thinking Crypto Podcast, suggested that the approval could be due to increasing pressure on Coinbase and BlackRock. He pointed out that external factors may be driving the push for more accessible Bitcoin-related financial products. Coinbase-BlackRock Custody Agreement Amended Along with the SEC approval, BlackRock has changed its Custodial Services Agreement with Coinbase. According to an X post by MartyParty, BlackRock revised Section 2.1 of the agreement, mandating Coinbase to process digital asset withdrawals within 12 hours of receiving instructions from the Trust or its authorized representatives. This update could make the operational side of Bitcoin ETFs smoother, boosting confidence among institutional investors. Blackrock News: @BlackRock ammends their Custody agreement with @coinbase – files with @SECGov As detailed in the SEC filing, the amendment updates Section 2.1 of the Custodial Services Agreement. Coinbase Custody must now process a withdrawal of digital assets to a public… pic.twitter.com/zzhcmzvqoB — MartyParty (@martypartymusic) September 23, 2024 The revised custody agreement reflects the increasing need for faster, secure access to digital assets, especially…

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Filed under: News - @ September 24, 2024 7:17 am