SEC approves Bitcoin index options, X reports

The U.S. Securities and Exchange Commission approved Nasdaq Bitcoin Index Options on May 22, 2026, according to an SEC rulemaking page updated that day. The approval verified one item in a May 22 crypto roundup circulating on X, which had said the SEC had approved “Bitcoin index options.” The SEC page shows the action came in an order granting accelerated approval of Nasdaq PHLX’s proposed rule change to list and trade the product. (sec.gov 1) (sec.gov 2) The SEC first opened proceedings on the proposal on May 23, 2025, after Nasdaq PHLX filed to list options on the Nasdaq Bitcoin Index. The agency’s earlier order described the product as cash-settled, European-style options on an index reflecting the price of spot bitcoin, with settlement in U.S. dollars. (sec.gov) ### What exactly did the SEC approve? Nasdaq PHLX won approval to list and trade Nasdaq Bitcoin Index Options, not options on a single spot Bitcoin ETF. The SEC’s earlier description of the filing said the contracts would be tied to the Nasdaq Bitcoin Index and would settle in cash rather than through delivery of bitcoin. (sec.gov) The SEC said in the 2025 proceedings order that holders at expiration would receive U.S. dollars representing the difference between the CME CF Bitcoin Reference Rate–New York Variant, or BBRNY, and the strike price, multiplied by $100. The filing also covered trading increments, position and exercise limits, strike intervals, expiration months and closing settlement rules. (sec.gov) ### How is this different from the earlier Bitcoin ETF options approvals? October 2024 brought SEC approval for options on Bitcoin exchange-traded funds, and September 2025 brought approval for p.m.-settled options on the Cboe Bitcoin U.S. ETF Index and Mini-Cboe Bitcoin U.S. ETF Index. The May 22, 2026 action is separate because it applies to Nasdaq’s Bitcoin index options filing rather than a spot ETF options filing. (sec.gov) September 2025 also brought SEC approval of generic listing standards for commodity-based trust shares, including digital-asset products, in a broader effort to streamline exchange listings. In that same release, SEC Chairman Paul S. Atkins said the standards were intended to “streamline the listing process,” though the May 22, 2026 order concerned a specific Nasdaq PHLX options proposal. (sec.gov) ### What can be verified from the other claims in the X roundup? Bank of America filed a Form 13F-HR for the quarter ended March 31, 2026, with the SEC on May 18, 2026. The filing confirms the bank reported its equity holdings for that quarter, which is the source document cited in market reports about its crypto ETF exposure, though the specific ETF line items were not fully displayed in the search excerpts reviewed here. (cdn.cboe.com) Arthur Hayes-related HYPE claims appear to come from crypto market and on-chain tracking reports rather than a regulator or company filing. One market report published May 22 said a wallet believed to be linked to Hayes deposited 115,453 HYPE worth about $6.33 million to Bybit and still held 247,334 HYPE worth about $13.6 million; that supports market activity around HYPE, but not the exact phrasing in the X post that he had “realized” a $1.76 million profit. (sec.gov) ### What about the reported $10.95 million in HYPE ETF inflows? SoSoValue and CoinGlass both maintain HYPE ETF flow trackers, and market reports published on May 22 and May 23 cited fresh inflows into spot HYPE ETFs. The X roundup’s $10.95 million figure could not be independently confirmed from a primary filing or regulator document in the material reviewed here, though secondary market reports described rising HYPE ETF demand and cumulative inflow totals. (sec.gov) May 23 market reports said HYPE had reached a record high as ETF demand increased. Those reports are secondary sources and should be read as market color rather than official disclosures. (coinness.com) ### When would the next hard data points arrive? Quarter-end filings remain the clearest next checkpoint for institutional holdings. Bank of America’s most recent 13F covered positions as of March 31, 2026, and Form 13F deadlines generally fall 45 days after quarter-end, according to SEC guidance. Exchange notices and SEC rule pages will be the next place to watch for launch timing and trading details for Nasdaq Bitcoin Index Options. (sosovalue.com) The SEC’s rulemaking page for SR-Phlx-2025-50 is the official record for that approval. (sec.gov) (sec.gov) (invezz.com)