BTC Holds Mid-$76K as Nasdaq QBTC Options Secure SEC Nod, Await CFTC

Bitcoin is consolidating around $76,500–$77,500 after Nasdaq PHLX received conditional SEC approval on May 25 to list cash-settled European-style Bitcoin index options under ticker QBTC. The contracts track the CME CF Bitcoin Real Time Index, deliver 1 BTC exposure per contract via a 1/100 scaling factor and $100 multiplier, and settle in USD through standard brokerage accounts—materially smaller than CME’s 5-BTC options. Trading still requires CFTC exemptive relief, but the approval marks a key step toward broader regulated derivatives access and potential liquidity gains.