Nasdaq Seeks SEC Approval for Bitcoin Index Options
Nasdaq is seeking approval from the U.S. Securities and Exchange Commission (SEC) to list Bitcoin (BTC) index options.
A recent report reveals that Nasdaq is aiming to introduce a product called Nasdaq Bitcoin Index Options (XBTX).
However, the SEC has not yet approved any options tied to the spot BTC exchange-traded funds (ETFs) that were launched in January, including Nasdaq’s request to list options on BlackRock’s $21.3 billion iShares Bitcoin Trust ETF.
Matt Hougan, the chief investment officer at crypto exchange Bitwise, emphasizes the importance of having Bitcoin options available.
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He believes that offering options on Bitcoin is crucial for fully integrating the asset class into the market, as it would enhance liquidity through ETF options.
Options are financial contracts that give investors the right to buy or sell an asset at a predetermined price within a specific timeframe, often used for leverage and risk management. Interest in Bitcoin ETF options surged after the SEC approved spot BTC ETFs in January 2024.
However, several exchanges have recently withdrawn and refiled their applications to address feedback from the SEC.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
