Cboe Updates Fees for Bitcoin ETF Options
Published Date: 6/16/2026
Notice
Summary
Starting May 29, 2026, Cboe Exchange is changing the fees for trading Bitcoin U.S. ETF Index options (CBTX) and Mini Bitcoin U.S. ETF Index options (MBTX). Traders using these options will see updated transaction fees that could affect their costs. This change kicks in immediately, so everyone trading these options should check the new fee schedule to stay in the know!
Analyzed Economic Effects
8 provisions identified: 2 benefits, 6 costs, 0 mixed.
CBTX: $1.50 fee for electronic removals
If you trade Cboe Bitcoin U.S. ETF Index options (CBTX) electronically and your non-customer order removes liquidity contra another non-customer, the Exchange will assess a fee of $1.50 per contract starting May 29, 2026. This applies only to electronically executed non-customer orders that remove liquidity contra non-customers.
CBTX: $1.00 fee for certain electronic adds
For CBTX electronically executed non-customer orders that are contra to customers, and for electronically executed non-customer, non-Market-Maker orders that add liquidity contra non-customers, the Exchange will assess a fee of $1.00 per contract starting May 29, 2026. This applies to the specific electronic add-liquidity scenarios described in the rule change.
MBTX: $1.00 fee for electronic removals
If you trade Cboe Mini Bitcoin U.S. ETF Index options (MBTX) electronically and your non-customer order removes liquidity contra another non-customer, the Exchange will assess a fee of $1.00 per contract starting May 29, 2026. The fee applies to electronically executed non-customer orders that remove liquidity contra non-customers in MBTX.
CBTX: $0.75 rebate to Market-Makers
If you are a Market-Maker trading CBTX and you add liquidity electronically contra a non-customer, the Exchange will provide a rebate of $0.75 per contract starting May 29, 2026. The rebate applies to Market-Maker (capacity "M") orders that meet the specified electronic add-liquidity criteria.
MBTX: $0.50 rebate to Market-Makers
If you are a Market-Maker trading MBTX and you add liquidity electronically contra a non-customer, the Exchange will provide a rebate of $0.50 per contract starting May 29, 2026. This rebate applies to Market-Maker (capacity "M") orders that meet the electronic add-liquidity criteria for MBTX.
MBTX: $0.50 fee for certain electronic adds
For MBTX electronically executed non-customer orders that are contra to customers, and for electronically executed non-customer, non-Market-Maker orders that add liquidity contra non-customers, the Exchange will assess a fee of $0.50 per contract starting May 29, 2026. This applies to the specific electronic add-liquidity scenarios described for MBTX.
CBTX: $1.00 manual (open outcry) fee
CBTX non-customer orders executed manually (open outcry) will be subject to a $1.00 per contract fee; this treatment is included in the May 29, 2026 filing and continues to apply. The Exchange notes there are no practical changes to the fee rate for these manual executions.
MBTX: $0.50 manual (open outcry) fee
MBTX non-customer orders executed manually (open outcry) will be subject to a $0.50 per contract fee; this treatment is included in the May 29, 2026 filing and continues to apply. The Exchange notes there are no practical changes to the fee rate for these manual executions.
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