Nasdaq Wins SEC Approval for Bitcoin Index Options

The U.S. Securities and Exchange Commission (SEC) has approved Nasdaq's proposal to list options tied directly to the Bitcoin price index, opening a new route for stock-market traders to bet on the asset.

The contracts will trade on 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. Unlike spot Bitcoin ETFs, these are cash-settled, European-style options, meaning traders settle gains and losses in dollars and can exercise only at expiration.

The approval widens the menu for institutional and retail traders in the United States. Until now, their main tools were Bitcoin futures options at CME Group and options tied to spot funds such as the iShares Bitcoin Trust ETF.

Nasdaq's head of U.S. options, David Barrett, called the decision an important step in expanding regulated, transparent access to digital asset derivatives.