PANews reported on August 27 that according to GlobeNewswire, Nasdaq has cooperated with CF Benchmarks and has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch the Nasdaq Bitcoin Index Option (XBTX). The option will be based on the CME CF Bitcoin Real-Time Index (BRTI) and provide market participants with tools to manage cryptocurrency investments and hedge risks. This cooperation aims to promote the maturity and liquidity of the digital asset market by combining the stability of the traditional securities market with the innovation of cryptocurrency. In addition, XBTX will adopt a European exercise and cash settlement mechanism to further enhance market transparency and investor confidence.