Nasdaq, in collaboration with CF Benchmarks, has filed with the Securities and Change Fee (SEC) to record and commerce the Nasdaq Bitcoin Index Choices (XBTX). If accepted, this new product will supply buyers a classy instrument to handle and hedge their Bitcoin investments via choices, which the Nasdaq mentioned will additional “the maturity and liquidity of the asset class.”
JUST IN: 🇺🇸 Nasdaq is in search of SEC approval for #Bitcoin index choices: Reuters pic.twitter.com/CT4WeljIbZ
— Bitcoin Journal (@BitcoinMagazine) August 27, 2024
“We’re proud to companion with CF Benchmarks for the Nasdaq Bitcoin Index Choices, offering market individuals with trusted funding avenues for accessing the digital asset ecosystem,” said Nasdaq’s Vice President and Head of Change Enterprise Administration, Greg Ferrari. “This collaboration additional combines the progressive crypto panorama with the resiliency and reliability of conventional securities markets and would mark a major milestone for increasing the maturation of the digital belongings market.”
The index choices will monitor the CME CF Bitcoin Actual-Time Index (BRTI) and will embody European-style train and money settlement provisions, with the ultimate settlement worth primarily based on the CME CF Bitcoin Reference Charge – New York Variant (BRRNY), divided by an element of 100 upon expiration. This product is designed to cater to each institutional and retail market individuals, offering entry to a brand new danger administration instrument, the Nasdaq mentioned.
“CF Benchmarks is delighted to companion with Nasdaq on the launch of choices settling to the CME CF Bitcoin Reference Charge – New York Variant (BRRNY), essentially the most liquid and broadly recognised BTC value benchmark for the US market,” mentioned Sui Chung, CEO of CF Benchmarks. “Spot choices settling to BRRNY will construct upon the massively profitable BTC futures and choices contracts provided by CME. Collectively these regulated crypto derivatives will give buyers the arrogance to deploy extra nuanced methods to realize publicity to the most important digital asset and can complement the spot ETFs which have already proved so fashionable with buyers. Because the cornerstone supplier of regulated benchmarks for the asset class we’re proud to convey extra establishments to the market that can preserve enhancing market liquidity.”
The Nasdaq mentioned it’s dedicated to advancing the Bitcoin and crypto ecosystem via trusted expertise and fostering institutional adoption. As this ecosystem matures, Nasdaq emphasised the essential significance of belief, transparency, and investor safety. To assist these ideas, Nasdaq affords quite a lot of options, together with Central Counterparties (CCPs), Central Securities Depositories (CSDs), and backing for Change Traded Product (ETP) listings. These choices assist improve market stability, liquidity, and general investor confidence in Bitcoin.