Approval doesn’t mean it can be traded. On October 13, SEC Chair Paul Atkins approved a Cboe rule change allowing KPI-based binary options on 23 U.S.-listed companies; the crypto-related metrics are trading volume of $COINB , and customer count and revenue of $HOODB .
They’re cash-settled, European-style options that can only be exercised at expiration. Settlement is based on company filings with the SEC, not earnings presentation slides. Cboe plans to launch this month, and Robinhood is expected to offer them to retail investors first. But Cboe Clear U.S.’s temporary registration hasn’t been approved, so trading can’t get started; another application is also under review.
$HOODB is trading at 103.77 USDT, up 3.72% over 24 hours. I’d treat that gain as sentiment, not as a sign that capital has already flowed in—the product itself still can’t be traded.
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