The US Securities and Exchange Commission (SEC) has approved Nasdaq's proposal to list cash-settled Bitcoin index options on the Philadelphia Stock Exchange. This move marks another step towards increased regulatory support for cryptocurrency trading in the US.
The new options are tied to the Nasdaq Bitcoin Index, a benchmark that tracks one one-hundredth of the CME CF Bitcoin Real Time Index. The index updates with data from major cryptocurrency exchanges every 200 milliseconds, providing a highly liquid and accurate representation of the market.
The options will trade under the ticker QBTC and have a position limit of 24,000 contracts per side. This is equivalent to roughly 0.12% of Bitcoin's outstanding supply, as noted by the SEC in its order.