Feds Set Trading Limits on Bitcoin ETFs: Crypto Goes Legit?
Published Date: 8/13/2025
Notice
Summary
Cboe Exchange just updated the rules for how many options traders can hold and exercise on four popular Bitcoin ETFs: iShares Bitcoin Trust, Grayscale Bitcoin Trust, Grayscale Bitcoin Mini Trust, and Bitwise Bitcoin ETF. This change affects anyone trading these options by adjusting limits to keep things fair and orderly. The new rules kicked in right away, so traders should check their positions to stay on track and avoid surprises.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Bitcoin ETF Options Limits Increased
Cboe removed the fixed 25,000-contract position and exercise limit for options on IBIT, GBTC, BTC, and BITB. Instead, limits will be set under Rule 8.30 based on each ETF's most recent six-month trading volume and outstanding shares and can be 25,000, 50,000, 75,000, 200,000, or 250,000 contracts; the change is operative upon filing. If you trade these options, you should check your positions now so they match the new, volume-based limits.
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