The US Securities and Exchange Commission (SEC) has approved options on a Bitcoin spot ETF from NYSE and CBOE, according to the financial information provider Unfolded. This move paves the way for the first-ever US exchange-traded fund based on the price of Bitcoin, which has been highly anticipated by investors and could further legitimize cryptocurrencies. The SEC's decision comes after the agency delayed its decision on several Bitcoin spot ETF applications in recent months, citing concerns about market manipulation and investor protection. Despite these concerns, the SEC has now given the green light to NYSE and CBOE, two of the largest US stock exchanges. This suggests that the agency is becoming more comfortable with the regulation of cryptocurrencies and the underlying technology, blockchain. The spot ETF will give investors exposure to the live price of Bitcoin, without having to buy the underlying asset directly. This could make it easier for investors to gain exposure to Bitcoin, as well as providing a more regulated and transparent way to do so.