Woofun AI reports that the U.S. Securities and Exchange Commission (SEC) has granted approval for Nasdaq to list cash-settled Bitcoin index options on the Philadelphia Stock Exchange. The product, assigned the trading code QBTC, is structured as a European option linked to the Nasdaq Bitcoin Index. This index tracks one percent of the CME CF Bitcoin Real-Time Index, with reference prices updated every 200 milliseconds to ensure precision.

Despite this regulatory milestone, the options cannot yet be listed or traded. The launch is contingent upon receiving an exemption from the Commodity Futures Trading Commission (CFTC). Until this additional clearance is secured, market participants must await further developments before accessing this new derivative instrument.