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The U.S. SEC has approved the listing of binary options on Cboe tied to key performance indicators of listed companies, according to Crypto in America host Eleanor Terrett. The products would let investors bet on whether conditions are met for metrics such as Coinbase trading volume, BTC mining output at MARA Holdings (MARA), and Robinhood customer numbers and revenue.
Robinhood is expected to be the first to offer the products to retail investors. The approval opens a way to trade not only on BTC prices but also on the earnings and business performance of crypto-related companies. The approval, however, is limited to a specific securities-options structure, while contracts with different structures could fall under the CFTC’s jurisdiction.