SEC Approves Nasdaq Bitcoin Index Options as BTC Holds Near $77,000

The SEC granted accelerated approval on May 23 for Nasdaq PHLX to list cash-settled Bitcoin index options under ticker QBTC, creating a new regulated hedging vehicle tied to the CME CF Bitcoin Real Time Index. The decision caps a ten-day regulatory surge that began May 13 with Brazil’s $3.2 million fine and two-year ban on Banco Topázio, continued with Missouri’s May 20–21 lawsuit against CoinFlip seeking $1.8 million in penalties, and peaked May 22 when Russia finalized its ban on personal non-custodial wallets effective July 1. Parallel U.S. moves include the bipartisan ARMA bill targeting a 1-million-BTC strategic reserve and Treasury freezes of nearly $500 million in Iranian crypto.