The United States Securities and Exchange Commission (SEC) gave Nasdaq the go-ahead to list and trade shares of options for BlackRock’s spot Bitcoin exchange-traded fund, or ETF.

In a Sept. 20 notice, the SEC approved options trading for the iShares Bitcoin Trust under the ticker symbol IBIT on Nasdaq. According to Nasdaq, the exchange will allow trading for options on the Bitcoin ETF “in the same manner” as other ETF options, subject to the same rules.

“Options on IBIT will be physically settled with American-style exercise,” said the SEC notice. “The Exchange stated that options on IBIT will be subject to the Exchange’s respective initial and continued listing standards. The Exchange’s initial listing standards require, among other things, that the security underlying a listed option be ‘characterized by a substantial number of outstanding shares that are widely held and actively traded.’”

This is a developing story, and further information will be added as it becomes available.