SEC Approves Nasdaq to List Options on BlackRock’s iShares Bitcoin Trust

Nasdaq wants to list and trade options on BlackRock’s iShares Bitcoin Trust (IBIT), and the U.S. Securities and Exchange Commission (SEC) has given its approval. Following a thorough evaluation procedure that started when Nasdaq filed the initial application on January 9, 2024, the clearance was confirmed on September 20.

In order to give more details regarding IBIT and other exchange-traded products (ETPs) based on Bitcoin, Nasdaq filed several revisions, beginning on January 11. Receiving permission was made possible in large part by these regular updates.

SEC’s Multi-Stage Review Leads to Greenlight

The SEC’s approval came after nearly eight months of in-depth evaluation. The commission noted that Nasdaq had also proposed modifications to its existing rules to accommodate options on IBIT. The new options will be physically settled with an American-style exercise, aligning with Nasdaq’s listing standards.

According to the SEC filing, “Options on IBIT will be subject to the Exchange rules that currently apply to the listing and trading of all ETF options on the Exchange.” This ensures a consistent regulatory framework for trading these options.