2026-00116Notice

SEC Extends Review on Bitcoin Trust Options Position Limits

Published Date: 1/8/2026

Notice

Summary

Nasdaq ISE wants to raise the limits on how many iShares Bitcoin Trust (IBIT) options traders can hold and exercise. The SEC is taking extra time to review this change, which could affect investors who trade these Bitcoin-related options. No money changes yet, but the decision deadline just got pushed back to give regulators more time to think it over.

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Proposed higher limits for IBIT options

Nasdaq ISE filed a proposal on November 13, 2025, and it was published in the Federal Register on November 26, 2025, to increase the position and exercise limits for options on the iShares Bitcoin Trust (IBIT). The change is a proposal only and has not been approved or implemented yet, so it could affect investors who trade IBIT options if adopted.

Amendment removes proposed FLEX rule changes

On November 24, 2025, Nasdaq ISE filed Amendment No. 1 which superseded the original proposal and proposes to remove the previously proposed changes to Options 3A (FLEX Options) trading rules for IBIT. This means the Exchange is not pursuing the FLEX trading rule changes as part of this filing unless a future amendment reintroduces them.

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Key Dates

Published Date
Effective Date
1/8/2026
2/24/2026

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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