SEC Approves Nasdaq Listing of Bitcoin Index Options

After the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin ETFs on Jan. 10, 2024, investors primarily gained exposure through fund shares and options on those shares. Nasdaq PHLX’s new instrument is linked directly to a Bitcoin index, allowing investors to trade and hedge price movements without holding Bitcoin or an ETF.

On May 22, 2026, the SEC approved on an accelerated basis Nasdaq PHLX’s listing of QBTC. The contract is priced at one-hundredth of the CME CF Bitcoin Real Time Index and has a $100 multiplier, making each contract equivalent to one Bitcoin, with a notional value of about $76,000 at the time. The product features cash settlement and European-style exercise, but formal trading remains subject to CFTC approval.