Nasdaq Pushing for SEC To Approve Launch of Bitcoin Index Options: Report

The world’s first digital inventory trade asks the highest US securities regulator to approve Bitcoin (BTC) index choices.

Based on a brand new report from Reuters, Nasdaq is searching for approval from the U.S. Securities and Exchanges Fee (SEC) to launch a Nasdaq Bitcoin Index Choices (XBTX) product.

The SEC has not but authorized any choices primarily based on the spot BTC exchange-traded funds (ETFs) launched in January. This contains an software from Nasdaq to commerce choices on BlackRock’s $21.3 billion iShares Bitcoin Belief ETF.

Says Chief Funding Officer of crypto trade Bitwise, Matt Hougan,

“It will be important that choices on bitcoin can be found in order that this asset class might be totally normalized.

We’re lacking a few of the liquidity image that ETF choices would supply.”

Choices are by-product contracts that give the holder the appropriate to purchase or promote an underlying asset at a specified worth and time-frame. They’re supposed as a software for merchants in search of leverage and danger administration.

Based on the report, functions for Bitcoin ETF choices began pouring in after the SEC authorized spot BTC ETFs in January 2024. Nevertheless, just lately a number of exchanges have withdrawn and resubmitted their functions to reply to the SEC’s feedback.

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Featured picture: Shutterstock/Philipp Tur