There are so many options – as long as the thread into the casting fits. Threaded rod, bolt (not favourite), a stud with any thread you choose on the other end, metric, imperial, cycle? Nut, thumbwheel, wing nut. Any combination with the other end 1/4 BSF!
The usual reasoning with studs into cast is coarse in the cast end and (possibly) a finer thread for the nut. With a finer thread the nut gets undone and not the stud and is better for high clamping force applications. This is not a high clamping force application, of course. Think cylinder heads for high clamping force requirement.
Threads wear over time with continued use. The stud is easier to replace than the threads in the casting. Remember also that the thread dial has a clearance hole (for the relevant sized stud). Fitting a smaller stud should not be contemplated, even though you 'might get away with it'.