MEMX Expands Options Limits for Top Bitcoin ETFs Now
Published Date: 8/25/2025
Notice
Summary
MEMX is updating the rules that limit 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 options on these ETFs and takes effect immediately, helping keep the market fair and balanced. No direct cost changes, but traders should watch their position sizes closely!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Position and Exercise Limits Raised
If you trade options on IBIT, GBTC, BTC, or BITB, MEMX removed the 25,000 contract position and exercise limits so those limits will now be set under Rule 18.7(d) based on six-month trading volume and could be as high as 250,000 contracts. The change became operative upon filing on August 19, 2025. This lets traders hold larger same-side option positions and may increase liquidity for these Bitcoin ETF options.
Reporting and Surveillance Stay Same
MEMX will keep the existing reporting and surveillance rules for these Bitcoin ETF options. Members must still report options positions, hedging status, and must file reports for any customer who held aggregate large long or short positions of 200 or more option contracts on the same side of the market for the previous day; Market-Makers remain exempt from the reporting requirement but the Exchange may access their position information.
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