SEC Suspends Nasdaq Bitcoin Options Approval Following CME Objection

SEC halts QBTC listing review after CME Group argues Bitcoin is a commodity under CFTC jurisdiction, setting Aug 24 deadline for comments.

Woofun AI reports that the SEC has suspended its approval process for Nasdaq’s cash-settled Bitcoin index options (ticker: QBTC) following a legal challenge from the CME Group. The suspension, effective since June 11, stems from CME's argument that Bitcoin constitutes a commodity, placing such options under CFTC jurisdiction rather than the SEC. If this view prevails, Nasdaq would need to register as a futures exchange or redesign the contract to track securities like BTC spot ETFs. The SEC order maintains the hold and grants parties until August 24 to submit opinions on the matter.