The world’s first digital inventory trade is asking the highest US securities regulator to approve Bitcoin (BTC) index choices.
In keeping with a brand new report from Reuters, Nasdaq is looking for approval from the U.S. Securities and Exchanges Fee (SEC) to checklist a Nasdaq Bitcoin Index Choices (XBTX) product.
The SEC has not but accredited choices based mostly on any of the spot BTC exchange-traded funds (ETFs) that launched in January. This consists of an software from Nasdaq to commerce choices on BlackRock’s $21.3 billion iShares Bitcoin Belief ETF.
Says chief funding officer of crypto trade Bitwise, Matt Hougan,
“It’s vital for choices on bitcoin to be accessible for this asset class to be absolutely normalized.
We’re lacking part of the liquidity image that ETF choices would supply.”
Choices are by-product contracts giving the holder the precise to purchase or promote an underlying asset at a sure worth and timeframe. They purpose to function a device for merchants looking for leverage and danger administration.
In keeping with the report, functions for Bitcoin ETF choices started pouring in after the SEC accredited spot BTC ETFs in January 2024. Just lately, although, a number of exchanges have withdrawn and resubmitted their functions to deal with feedback from the SEC.
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Featured Picture: Shutterstock/Philipp Tur
