Notable stock exchange Nasdaq has announced a recent filing with the US Securities and Exchange Commission (SEC) to launch Bitcoin options. The Nasdaq Bitcoin Index Options would allow the trading of options that are connected to the price of BTC.
The announcement makes Nasdaq the second stock exchange to seek such a product. In May, the New York Stock Exchange announced its plans to list a Bitcoin index option. Indeed, the move solidifies the rising prevalence of the leading cryptocurrency in finance.
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Nasdaq Files to Launch BTC Options in Notable Move
2024 has proven to be the year of Bitcoin. The token became the first crypto-based ETF in the United States in January of this year. Since then, its prominence has only been increasing. Now, a second major stock exchange has sought to help investors gain exposure to the cryptocurrency.
Nasdaq has announced a filing with the SEC to start trading Bitcoin options. In a press release, they stated the index would be provided in partnership with CF Benchmarks while tracking the CME CF Bitcoin Real-Time Index from the Chicago Mercantile Exchange.
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“This collaboration further combines the innovative crypto landscape with the resiliency and reliability of traditional securities markets,” Nasdaq Vice President Greg Ferrari said. Moreover, he added it “would mark a significant milestone for expanding the maturation of the digital asset market.”
Options are a crucial trading tool for investors. They allow the management of risks, giving a buyer the right to purchase, and sell, an asset at a specific price on a certain date. It also notes continued growth for the asset class. The participation of both the Nasdaq and the New York Stock Exchange solidifies the interest in BTC as an investment.