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Key Takeaways SEC approved Nasdaq to list bitcoin index options on Phlx under ticker QBTC
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Cash-settled QBTC contracts eliminate custody and assignment risks, broadening institutional bitcoin access.
Key facts
- Position limits are set at 24,000 contracts per side, roughly 0.12% of bitcoin ’s total outstanding supply, with a minimum price increment of $0.01
- The contracts will trade under the ticker QBTC and are tied to the Nasdaq Bitcoin Index, a benchmark that tracks one one-hundredth of the CME CF bitcoin real-time index, updating every 200
- The Securities and Exchange Commission (SEC) approved Nasdaq’s application to list European-style, cash-settled bitcoin index options on the Philadelphia Stock Exchange (Phlx), adding another
- Key Takeaways SEC approved Nasdaq to list bitcoin index options on Phlx under ticker QBTC
Summary
The U.S. Securities and Exchange Commission has approved Nasdaq to list cash-settled bitcoin index options on the Philadelphia Stock Exchange, opening a new derivatives gateway for institutional investors who want regulated bitcoin exposure without custody complications. Key Takeaways SEC approved Nasdaq to list bitcoin index options on Phlx under ticker QBTC. Trading cannot begin until the CFTC grants exemptive relief, as bitcoin is classified as a U.S. commodity.