According to Foresight News, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to list BlackRock's iShares Bitcoin Trust on Nasdaq for option trading, with the stock code IBIT. IBIT options will be physically settled through American-style exercise. Trading of this derivative product still requires approval from the U.S. Office of the Comptroller of the Currency (OCC) and the U.S. Commodity Futures Trading Commission (CFTC) before it is officially listed.