By Isaac • May 25, 2026 11:07 am •
The SEC on May 22 granted accelerated approval for Nasdaq PHLX to list and trade cash-settled options on the Nasdaq Bitcoin Index, putting Bitcoin one step closer to full integration into regulated U.S. options infrastructure.
The product will trade under ticker QBTC. It is designed as a European-style, cash-settled contract that references a Bitcoin price benchmark directly, settling in U.S. dollars rather than physical Bitcoin.
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Trading cannot begin yet. The SEC order explicitly states that Nasdaq PHLX cannot list QBTC until the CFTC grants all necessary exemptive relief.
NEW: The SEC conditionally approves Nasdaq PHLX to list cash-settled $BTC index options under the ticker $QBTC, pending CFTC approval. pic.twitter.com/f0AXI9CJ4d
— CoinDesk (@CoinDesk) May 25, 2026
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