CFTC Approval Brings Bitcoin Spot ETF Options Closer to Launch, Bitcoin Eye $100K

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The U.S. Commodity Futures Trading Commission (CFTC) has just approved the listing of Bitcoin spot ETF options, a major step toward bringing Bitcoin to Wall Street. But the final decision now lies with the Office of the Comptroller of the Currency (OCC), expected to make its call soon. 

With momentum building, could this be the start of a new chapter for Bitcoin—and a potential rally toward $100,000?

CFTC Approve Listing of Bitcoin Spot ETF Option

On November 15, the CFTC issued an advisory notice approving the listing of Bitcoin spot ETF options, offering investors new ways to manage their Bitcoin exposure. Bloomberg’s senior ETF analyst Eric Balchunas marks this the second major regulatory milestone for Bitcoin spot ETF options following earlier approval from the SEC.

BOOM: The CFTC just dropped a notice clearing the way for spot bitcoin ETF options to be listed. This is the second hurdle they needed to clear after the SEC. Ball now in OCC's court and they are into it, so they'll prob list very soon. pic.twitter.com/tRiwaPpoW4

— Eric Balchunas (@EricBalchunas) November 16, 2024

The CFTC’s clearance is a major win for the crypto industry, as it shows the increasing regulatory recognition of Bitcoin-focused products. With the SEC and CFTC now on board, the stage is set for options tied to Bitcoin spot ETFs to enter the market. 

Now, the final step rests with the Options Clearing Corporation (OCC), which is actively reviewing the matter. According to Balchunas, the OCC is already involved, indicating that the listing of Bitcoin spot ETF options could happen soon. 

Why It Matters: Spot Bitcoin ETF Options

The introduction of Bitcoin spot ETF options could bring significant changes to how people interact with Bitcoin investments. They offer strategies to manage risk, hedge against potential price declines, and enhance portfolio returns. 

For instance, investors can use options to safeguard their Bitcoin holdings or generate additional income through strategies like covered calls. 

This will allow investors to gain more control over their exposure to Bitcoin’s price swings and bring more liquidity to the market.

Bitcoin Next Move to 100K

For many, this news marks a major win for the cryptocurrency space. With Bitcoin already reaching a new all-time high of $93K this week, many are now predicting that the approval of Bitcoin spot ETF options could propel it to $100K.

MicroStrategy founder Michael Saylor, confident in Bitcoin’s potential, has even planned a celebration for when the price hits $100,000, possibly by New Year’s Eve.

Meanwhile, popular analyst Ali Martinez has also weighed in, predicting that Bitcoin could reach $100,680 if it closes above $91,900 this week.