According to FinanceFeeds, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to list cash-settled Bitcoin index options on the Philadelphia Stock Exchange under the ticker QBTC. The product is a European-style option linked to the Nasdaq Bitcoin Index, which tracks one-hundredth of the CME CF Bitcoin Real-Time Index, with reference prices updated every 200 milliseconds. QBTC options are cash-settled, meaning holders receive the difference between the spot Bitcoin price and the strike price at expiration, without physical delivery. The SEC mandates a minimum trading unit of $0.01 and a single-side position limit of 24,000 contracts, representing approximately 0.12% of Bitcoin’s circulating supply. Trading of this product is subject to a waiver from the Commodity Futures Trading Commission (CFTC).
SEC Approves Nasdaq's Bitcoin Index Options on the Philadelphia Stock Exchange
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Summary
Bitcoin breaking news: The SEC has approved Nasdaq to launch Bitcoin index options on the Philadelphia Stock Exchange under the ticker QBTC. The product is cash-settled and based on the Nasdaq Bitcoin Index, which tracks 1% of the CME CF Bitcoin Real-Time Index. The SEC has set a minimum trading unit of $0.01 and a position limit of 24,000 contracts. Trading will require a CFTC exemption before commencement. Bitcoin news continues to evolve with this regulatory development.
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