BlockBeats News, May 23rd, according to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to launch a Bitcoin price-based index option product.

The product will reportedly provide U.S. stock market traders with a new type of Bitcoin price exposure tool apart from the spot Bitcoin ETF options. In the future, investors can trade and hedge against BTC price risk through Bitcoin index options without directly holding spot assets or ETFs.

The market believes that this approval further demonstrates the accelerating integration between the traditional financial market and the crypto asset ecosystem. Previously, products such as BlackRock's iShares Bitcoin Trust (IBIT) with spot Bitcoin ETF options have been widely traded.