Nasdaq Inc. received approval on Friday from the US Securities and Exchange Commission to list and trade Bitcoin index options, expanding regulated crypto derivatives offerings tied to the digital asset market.
The SEC approved Nasdaq PHLX's proposal to launch Nasdaq Bitcoin Index Options, which are designed to provide investors with a tool to hedge or gain exposure to Bitcoin price movements without directly holding the cryptocurrency.
The options are linked to the Nasdaq Bitcoin Index and come as exchanges and asset managers continue expanding cryptocurrency investment products following approval of spot Bitcoin exchange-traded funds in the US.
Trading cannot begin until additional regulatory conditions are met, including required relief from the Commodity Futures Trading Commission and clearing-related approvals.
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