The U.S. Securities and Exchange Commission (SEC) granted approval for Nasdaq Inc. to list index options based on the price of Bitcoin. The approval was granted on an accelerated basis on May 22, 2026, according to an SEC order posted on Friday [1].
These new options will be cash-settled European-style contracts, meaning they do not involve physical delivery if exercised in the money. Their underlying index is the CME CF Bitcoin Real Time Index, which updates every 200 milliseconds to track Bitcoin prices [1].
Nasdaq’s listing marks the first time Bitcoin options have been available on the Nasdaq exchange, bringing cryptocurrency derivatives directly into the regulated equity market [1]. Before this, CME Group had been offering Bitcoin futures options since 2020, but Nasdaq’s options expand regulated market access for U.S. traders [1].
These options offer a new way for United States equities traders to access Bitcoin beyond the existing options available on the iShares Bitcoin Trust ETFs [2, 1]. David Barrett, Nasdaq's head of U.S. options, said, "The SEC’s conditional approval represents an important step in expanding regulated, transparent access to digital asset derivatives" [1].
SEC chairman Paul Atkins supports widening U.S. crypto trading options to reduce risks linked to offshore venues. He noted, "The experience of the offshore growth and implosion of FTX demonstrates the folly of pretending that Americans will not be harmed if we do not address innovative technologies and thereby force them offshore" [1]. The 2022 collapse of FTX exposed the dangers of offshore crypto trading platforms [1].
While the SEC has approved the listing, the options still require final authorization from the Commodity Futures Trading Commission before they can begin trading [1]. This step remains pending as Nasdaq prepares to launch the contracts.
The availability of these options may provide U.S. investors with an additional regulated tool for Bitcoin trading when the CFTC grants approval.
