Nasdaq Wins SEC Approval for Bitcoin Index Options

The US Securities and Exchange Commission (SEC) has given its approval for Nasdaq to list options tied directly to a Bitcoin price index, marking an important step in expanding regulated access to digital asset derivatives.

The contracts will trade on the Nasdaq PHLX under the ticker QBTC and track the CME CF Bitcoin Real Time Index, which pulls valuations from major spot venues every 200 milliseconds. These are cash-settled, European-style options, meaning traders settle gains and losses in dollars and can exercise only at expiration.

This approval widens the menu for institutional and retail traders in the US, who until now have relied on Bitcoin futures options at CME Group and options tied to spot funds such as the iShares Bitcoin Trust ETF. The launch of these index options has been a long time coming, with Nasdaq first filing for them in August 2025.