The SEC has paused Nasdaq’s QBTC bitcoin options approval following a CME Group challenge over regulatory authority.
The U.S. Securities and Exchange Commission has suspended Nasdaq’s conditional approval to list cash-settled bitcoin index options under the ticker QBTC. The decision follows a legal challenge from CME Group, which argues that bitcoin is a commodity and thus falls under CFTC jurisdiction, not the SEC’s.
Nasdaq received initial approval in May, but the product required additional exemptions from the CFTC before launch. CME Group filed its challenge in June, contending that the SEC lacks authority over bitcoin options. The SEC will review the dispute and accept public comments until August 24.
The suspension leaves QBTC’s launch timeline uncertain, pending the SEC’s final determination on regulatory oversight.