Nasdaq seeks approval from the U.S. Securities and Exchange Commission (SEC) to launch and trade options on a Bitcoin index. This move aims to provide institutional investors and traders a new way to hedge their Bitcoin exposure. The proposed Nasdaq Bitcoin Index Options would track the CME CF Bitcoin Real-Time Index, offering a cost-effective way to amplify exposure to the cryptocurrency. While the SEC has not approved options based on spot Bitcoin ETFs, Nasdaq's initiative highlights the growing demand for diverse Bitcoin trading instruments among institutional investors.