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Langgam Pos - Nasdaq has made a significant move by submitting a request to the U.S. Securities and Exchange Commission (SEC) to list and trade Bitcoin Index Options (XBTX). This strategic initiative is aimed at providing institutional and retail investors with a new tool for managing their cryptocurrency investments.
The proposed Bitcoin Index Options, pending regulatory approval, will feature cash settlement and European-style execution. These options will track the price of Bitcoin using the CME CF Bitcoin Real-Time Index (BRTI), further enhancing market maturity and liquidity with their structured settlement mechanism.
Greg Ferrari, Vice President and Head of U.S. Exchange Business Management at Nasdaq, highlighted the significance of this development. He emphasized that this collaboration merges the innovative crypto landscape with the resilience and reliability of traditional securities markets. "This will mark a crucial milestone in expanding the maturity of the digital asset market," Ferrari stated, as reported by Bitcoin.com on August 29, 2024.
Once approved, XBTX will provide investors with a regulated derivative tool, offering a safer way to gain exposure to the largest digital asset. This product will complement the already popular spot ETFs, further solidifying Bitcoin’s position in mainstream investment portfolios.
AI-Based Crypto Market Cap Surges 79%: What’s Driving the Growth?
In a related development, the market capitalization of AI and big data-based cryptocurrency projects has skyrocketed, seeing a 79.7% increase over the past three weeks. This surge reflects renewed confidence among crypto investors.
According to Yahoo Finance on August 29, 2024, the market cap for AI and big data crypto projects hit an annual low of $18.21 billion on August 6, largely due to broader challenges in the cryptocurrency market and a sharp decline in Bitcoin prices. Bitcoin’s price fell to $49,500 on August 5 following a surprise interest rate hike by the Bank of Japan.
As of August 27, leading tokens in the AI and big data space include Near Protocol (NEAR) with a market cap of $5.5 billion, Internet Computer (ICP) at $3.8 billion, Artificial Superintelligence Alliance (FET) at $3.4 billion, and Bittensor (TAO) at $2.8 billion.
The rise in AI tokens is also fueled by the broader AI narrative, which has gained significant traction in 2024. This momentum is partly driven by the strong performance of Nvidia’s stock, a key player in AI hardware. Nvidia’s positive earnings reports have often been followed by a rise in AI tokens, and the chipmaker is set to release its quarterly results on August 28.
These developments underscore the growing integration of AI technology into the cryptocurrency market, offering new opportunities and challenges for investors.
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