Nasdaq Looks to Offer Bitcoin Options, Following Rival NYSE’s Plans

Nasdaq is seeking approval from regulators to allow the launch and trading of options tied to the price of bitcoin (BTC), the exchange said Tuesday. The proposed Nasdaq Bitcoin Index Options (XBTX) is in partnership with index provider CF Benchmarks and would track the CME CF Bitcoin Real-Time Index operated on the Chicago Mercantile Exchange exchange. This will help investors hedge investments in the asset class, the Nasdaq (NDAQ) said. Options are an important vehicle for investors looking to manage risk as they give the buyer the right to buy or sell an asset at a set price and on an agreed date. The move follows an earlier announcement by the NYSE.

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