Nasdaq Wins SEC Green Light for Bitcoin Index Options

Nasdaq has received approval from the U.S. Securities and Exchange Commission to list Bitcoin price-based index options, Bloomberg reported, citing ChainCatcher. The contract is a European-style option tied to the CME Bitcoin Real-Time Index and will be cash-settled, giving investors a way to take directional exposure to—or hedge—Bitcoin price swings in the stock market without holding Bitcoin or a Bitcoin ETF. The product still needs clearance from the U.S. Commodity Futures Trading Commission before it can officially begin trading.