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According to Bloomberg, the U.S. Securities and Exchange Commission (SEC) has approved Nasdaq to launch an options product based on the Bitcoin price index. The product will use a cash-settled European option structure, linked to the CME CF Bitcoin Real Time Index, providing U.S. stock market investors with an alternative Bitcoin price trading instrument besides Bitcoin ETF options. According to SEC filings, the product has received accelerated approval, but it still requires final approval from the U.S. Commodity Futures Trading Commission (CFTC) before its official launch.