Nasdaq Wants to Raise Bitcoin ETF Gambling Limits
Published Date: 1/6/2025
Notice
Summary
Nasdaq ISE wants to let traders hold and exercise way more options on the iShares Bitcoin Trust ETF—boosting limits from 25,000 to 250,000 contracts! This change affects anyone trading these Bitcoin ETF options and could mean bigger moves and more money in the game. The proposal was filed in December 2024 and is now open for public comments before it can take effect.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Options Limits Raised Tenfold for IBIT
The Exchange proposed increasing position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT) from 25,000 contracts to 250,000 contracts. The proposal was filed December 20, 2024 and is open for public comment through January 27, 2025 before the SEC acts.
IBIT Options May Quote in Penny Increments
The Exchange says IBIT options are likely to trade in penny increments as of January 2, 2025 if they meet the Penny Program criteria, allowing quotes in $0.01 steps. The Commission and Exchange noted penny increments have narrowed spreads and can reduce trading costs for options traders.
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Next: 2024-31772, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025
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