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**SEC Approves Options Trading for Spot Ethereum ETFs: A Game-Changer for Crypto Investors**
In a significant development, the U.S. Securities and Exchange Commission (SEC) has granted approval for options trading on various spot Ethereum exchange-traded funds (ETFs). This includes prominent names like BlackRock’s iShares Ethereum Trust, Bitwise Ethereum ETF, and two offerings from Grayscale – the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust.
**What Just Happened?**
On Wednesday, the SEC announced an “accelerated approval” for Nasdaq ISE’s proposal to permit options trading on BlackRock’s Ethereum ETF. Concurrently, the SEC also approved a request from NYSE American to allow options trading for Bitwise and Grayscale’s Ethereum-based products.
**Why It Matters**
This approval represents a substantial expansion of flexibility and depth in the crypto investment sphere. Investors can now hedge their ETH positions or strategically bet on price movements without having to directly buy or sell Ethereum, much like what we have witnessed with spot Bitcoin ETFs. This move is expected to amplify trading activity and render Ethereum ETFs more alluring to both retail and institutional investors.
**Ethereum Price Reacts**
ETH had been experiencing a downward trend over the past few days, dropping close to $1,400. However, following this announcement, it exhibited a sharp bounce-back to around $1,650. The price has since cooled off slightly but remains steady above $1,550 and the 100-hourly moving average, showcasing resilience. While the price is currently facing resistance in the range of $1,650-$1,680, bulls may attempt another push higher if momentum holds.
This news has undoubtedly instilled fresh optimism within the market.
Source: https://coinpedia.org/news/sec-approves-options-trading-for-spot-ethereum-etfs-a-game-changer-for-crypto-investors/
