{"id":460134,"date":"2025-01-06T23:30:40","date_gmt":"2025-01-06T23:30:40","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=460134"},"modified":"2025-01-06T23:19:17","modified_gmt":"2025-01-06T23:19:17","slug":"nasdaq-proposes-raising-ibit-options-contract-limit-for-traders","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/nasdaq-proposes-raising-ibit-options-contract-limit-for-traders\/","title":{"rendered":"Nasdaq proposes raising IBIT options contract limit for traders"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Nasdaq<\/span> <strong><a href=\"https:\/\/www.federalregister.gov\/documents\/2025\/01\/06\/2024-31771\/self-regulatory-organizations-nasdaq-ise-llc-notice-of-filing-of-proposed-rule-change-to-increase\">filed<\/a><\/strong><span style=\"font-weight: 400;\"> to raise the current options contract limit of the iShares Bitcoin Trust ETF (<a href=\"https:\/\/cryptoslate.com\/products\/ishares-bitcoin-trust\/\">IBIT<\/a>) from 25,000 to 250,000 contracts, representing an exercisable risk of 2.89%, according to a Jan. 6 SEC filing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the filing, the current limit represents only 0.4% of exercisable risk for the spot Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) exchange-traded fund (ETF). <a href=\"https:\/\/cryptoslate.com\/people\/jeffrey-park\/\">Jeffrey Park<\/a>, head of alpha strategies at <a href=\"https:\/\/cryptoslate.com\/companies\/bitwise\/\">Bitwise<\/a>, had previously<\/span><a href=\"https:\/\/x.com\/dgt10011\/status\/1858729192105414837\"> <span style=\"font-weight: 400;\"><strong>stated<\/strong><\/span><\/a><span style=\"font-weight: 400;\"> that this is a low number.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A contract limit caps the number of contracts that can be held on the same side of the market. Since it varies by ETF based on the number of outstanding shares and trading volume, <a href=\"https:\/\/cryptoslate.com\/companies\/nasdaq\/\">Nasdaq's<\/a> requirement cited volume growth as a potential driver of the SEC's approval.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the document:<\/span><\/p>\n<blockquote><p><strong>&#8220;The Exchange also has no reason to believe that the growth in trading volume in IBIT will not continue. Rather, the Exchange expects continued options volume growth in IBIT as opportunities for investors to participate in the options markets increase and evolve.&#8221;<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Park said he is optimistic that the application will have a positive outcome. He <\/span><strong><a href=\"https:\/\/x.com\/dgt10011\/status\/1876351878721864111\">added<\/a><\/strong><span style=\"font-weight: 400;\">\u00a0that the facts have always been on Nasdaq and <a href=\"https:\/\/cryptoslate.com\/companies\/blackrock\/\">BlackRock's<\/a> side.<\/span><\/p>\n<h2><strong>Treated differently<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">According to analysts, the approval of options trading in spot Bitcoin ETFs was an important development for crypto adoption as it attracts more sophisticated traders and consequently adds more liquidity to the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IBIT\u2019s options debut<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/ibit-options-trading-volume-surges-to-446m-in-opening-hours-1-6b-by-mid-day\/\">moved over $446 million<\/a><\/strong><span style=\"font-weight: 400;\"> in its first trading hours, which Bloomberg senior ETF analyst <a href=\"https:\/\/cryptoslate.com\/people\/eric-balchunas\/\">Eric Balchunas<\/a> highlighted as remarkable, calling it &#8220;a ton&#8221; for a launch day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, despite the approval, Park stated that crypto still receives special treatment for trading, comparing IBIT\u2019s contract limit with traditional investment vehicles.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He cited CME Bitcoin futures contracts\u2019 2,000-contract limit, equivalent to 175,000 contracts for IBIT.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, despite requiring a raise to a 250,000-contract limit, Park believes IBIT qualifies for 400,000 options contracts, equivalent to 7% of outstanding shares as of Nov. 19, 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A low cap for options contracts creates \u201cunusual market dynamics,\u201d such as arbitrage between spot Bitcoin ETF shares.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nasdaq filed to raise the current options contract limit of the iShares Bitcoin Trust ETF (IBIT) from 25,000 to 250,000 contracts, representing an exercisable risk of 2.89%, according to a Jan. 6 SEC filing. According to the filing, the current limit represents only 0.4% of exercisable risk for the spot Bitcoin (BTC) exchange-traded fund (ETF). [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":454685,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,78665,39,77968,79849],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nasdaq proposes raising IBIT options contract limit for traders<\/title>\n<meta name=\"description\" content=\"The requirement mentions growing trading volumes as a driver for a potential approval by the SEC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/nasdaq-proposes-raising-ibit-options-contract-limit-for-traders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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