NEW YORK, NY, Tuesday, September 03, 2024 – Nasdaq, in collaboration with CF Benchmarks, filed on August 28 with the Securities and Exchange Commission (SEC) to list and trade the Nasdaq Bitcoin Index Options (XBTX),
Nasdaq’s announcement can be seen here: https://www.nasdaq.com/articles/nasdaq-seeks-sec-approval-bitcoin-index-options-aims-boost-crypto-market-maturity
This new product, if approved, would offer investors a way to manage and hedge their Bitcoin investments through options contracts.
“We are proud to partner with CF Benchmarks for the Nasdaq Bitcoin Index Options,” said Greg Ferrari, Nasdaq’s Vice President and Head of Exchange Business Management.
“This collaboration would provide market participants with trusted investment avenues for accessing the digital asset ecosystem, further combining innovation with the established practices of traditional securities markets.”
The index options would track the CME CF Bitcoin Real-Time Index (BRTI) and settle in cash based on the CME CF Bitcoin Reference Rate – New York Variant (BRRNY), divided by 100 upon expiration.
This structure is designed to cater to both institutional and retail investors, offering a new risk management tool.
Nasdaq said its commitment to fostering institutional adoption and trust within the Bitcoin and broader crypto ecosystem.
The company also highlighted its existing solutions, such as Central Counterparties (CCPs) and Exchange Traded Product (ETP) listings, as contributing to market stability and investor confidence.
The SEC has yet to rule on the approval of the Nasdaq Bitcoin Index Options.
