Nasdaq PHLX has received conditional approval from the U.S. Securities and Exchange Commission to list cash-settled, European-style Bitcoin index options under the ticker QBTC, according to CoinDesk. These options, which still require approval from the Commodity Futures Trading Commission (CFTC), will be settled in U.S. dollars and track the CME CF Bitcoin Real Time Index. The QBTC options will trade on the same Nasdaq platform as major stocks, allowing investors to use existing brokerage accounts without separate derivatives setups. Each contract represents exposure to 1 bitcoin, making it more accessible for smaller institutions and retail investors compared to CME's 5-bitcoin contracts.