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BlackRock has recently updated its filing with the U.S. Securities and Exchange Commission (SEC), indicating its intention to purchase spot Bitcoin ETFs for its Global Allocation Fund (MALOX). The March 7 filing states that MALOX may acquire shares of BlackRock's spot Bitcoin ETF, IBIT, and other ETFs offered by issuers that are specifically traded and listed on national securities exchanges.
Interest in Spot Bitcoin ETFs by BlackRock
Established in 1989, the BlackRock Global Allocation Fund aims to generate investment returns through comprehensive management policies using U.S. foreign equities, debt, and money market securities (including shares of companies like Apple).
BlackRock also recently updated its filing for the BlackRock Strategic Income Opportunities Fund (BSIIX) on March 4, indicating similar interest in purchasing spot Bitcoin ETFs. Meanwhile, in a filing on March 6, the SEC postponed the decision on Nasdaq's bid for the BlackRock iShares Bitcoin Trust (IBIT) options, citing the need for "sufficient time to consider" Nasdaq's request.
In another filing, the institution also extended the response time for the Cboe Exchange and Miami International Securities Exchange. These platforms initially applied to list Bitcoin ETF spot options on January 25, with the preliminary decision deadline set for March 10 under U.S. securities law, allowing for a 45-day decision or extension. With this extension, the institution now has an additional 45 days, reaching the maximum legal deadline of 90 days for a final decision on April 24.
Industry Leaders Advocate for Options Trading
Options are a financial derivative that allows investors to speculate on the price of digital currencies like Bitcoin using leverage or hedge their digital asset portfolios. Catherine Clay, Global Head of Derivatives at Cboe Global Markets, believes that options are a natural progression for spot Bitcoin ETFs.
In an interview with the American Consumer News and Business Channel, the company's Global Head of Derivatives stated, "We believe in the utility of options, what they provide to end investors in terms of downside hedging, and really helping end investors and the ecosystem with Bitcoin risk exposure."
Options are beneficial for investors, both retail and institutional, contributing to market stability and health. Options support price discovery and can help investors better navigate market conditions or achieve desired outcomes, such as generating income. —— Michael Sonnenshein (@Sonnenshein) February 5, 2024
Michael Sonnenshein, CEO of Grayscale, also advocated for the exchange-traded listing of options for spot Bitcoin ETFs in a post on February X. He believes that options support price discovery and can help investors navigate market conditions or achieve expected outcomes, such as generating income. |
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Post time 17-3-2024 14:14:31
