Crypto
Nasdaq's Bitcoin Options Win SEC Approval, but One Hurdle Remains
The U.S. Securities and Exchange Commission (SEC) has approved Nasdaq's proposal to list options tied directly to a Bitcoin price index, giving stock-market traders a new way 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 updates valuations from major spot venues every 200 milliseconds. They are cash-settled, European-style options, meaning traders settle gains and losses in dollars and can exercise only at expiration.
Nasdaq's head of U.S. options, David Barrett, called the decision an 'important step' in expanding regulated access to digital asset derivatives. The approval widens the menu for institutional and retail traders in the United States.