Nasdaq has approached the U.S. Securities and Exchange Commission (SEC) for approval to list and trade Bitcoin index options, Reuters reported.
Application Details
The Bitcoin Index Options (XBTX) to be listed will track the CME CF Bitcoin Real-Time Index. Accordingly, Nasdaq, in partnership with CF Benchmarks, has filed an application with the SEC to list and trade Nasdaq Bitcoin options.
Market Significance
If approved, these Bitcoin options would become the first cryptocurrency derivatives to be cleared by the U.S. Options Clearing Corporation (OCC).
Expert Commentary
"This collaboration brings together the innovative crypto landscape with the resilience and reliability of traditional securities markets and will be a significant milestone in expanding the maturity of the digital asset market," said Greg Ferrari, Nasdaq Vice Chairman. CF Benchmarks CEO Sui Chung added, "These regulated crypto derivatives will give investors the confidence to access the largest digital asset in more granular ways and complement spot ETFs that are already very popular among investors."
Should the application be approved, this event could significantly impact the future development of the cryptocurrency market and attract new investors to digital assets.
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