[SEC Approves Nasdaq to Launch Bitcoin Index Options] According to FinanceFeeds, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to list cash-settled Bitcoin index options on the Philadelphia Stock Exchange, with the trading code QBTC. This product is a European-style option linked to the Nasdaq Bitcoin Index, which tracks one-hundredth of the CME CF Bitcoin Reference Rate, with reference prices updated every 200 milliseconds. QBTC options are cash-settled, allowing holders to receive the difference between the Bitcoin spot price and the strike price upon expiration, without physical delivery. The SEC has stipulated a minimum trading unit of $0.01 and a single-side position limit of 24,000 contracts, approximately 0.12% of Bitcoin's circulating supply. The product requires an exemption permit from the Commodity Futures Trading Commission (CFTC) before it can officially commence trading.