SEC Approves Nasdaq’s Cash-Settled QBTC Bitcoin Index Options; CFTC Relief Still Needed

The U.S. SEC has cleared Nasdaq to list European-style, cash-settled bitcoin index options on the Philadelphia Stock Exchange under ticker QBTC, offering regulated BTC price exposure without holding bitcoin. The contracts reference the Nasdaq Bitcoin Index and feature a 24,000-contract position limit per side with $0.01 minimum ticks. Trading cannot start until the CFTC grants exemptive relief, and no timeline has been disclosed.