Nasdaq wants to quadruple BlackRock's Bitcoin ETF options limit.
Nasdaq International Securities Exchange has proposed quadrupling the daily trading limit on options linked to BlackRock's iShares Bitcoin Trust ETF. The platform has filed a corresponding request with the Securities and Exchange Commission (SEC).
In the document, Nasdaq requested an increase to the current ceiling of 250,000 contracts for the IBIT ETF to 1 million. The exchange emphasized that the proposed limits are fully consistent with existing options restrictions for other large funds.
We are talking about iShares MSCI Emerging Markets, iShares China Large-Cap ETF and iShares MSCI EAFE ETF.
This is Nasdaq's second attempt to expand the daily contract limit for IBIT. In January, shortly after approving options on this ETF, the platform increased the ceiling tenfold to the current 250,000. The SEC approved the request in July.
On the topic: Ondo Finance requested the SEC suspend Nasdaq's plan to tokenize securities.
IBIT Dominance
BlackRock's IBIT is now the largest bitcoin options market in the world by open interest, according to Bloomberg senior ETF analyst Eric Balchunas.
IBIT's volume peaked in October at over $50 billion, making it a direct competitor to Deribit, the largest crypto options exchange.
According to Bloomberg, contracts linked to IBIT account for 98% of all Bitcoin ETF options trading and 96% of total open interest.
Tim Sun, senior researcher at Hashkey Group, noted that the Nasdaq's demand doesn't simply reflect rising volumes. It signals a deeper shift in market patterns.
He believes this points to a significant need for hedging, risk management and more sophisticated strategy building.
Related: BlackRock: Bitcoin remains 'digital gold,' not a payment network
Meanwhile, analysts note that institutional players are increasingly relying on regulated products like IBIT to manage their exposure to Bitcoin (BTC).
This week, even JPMorgan Chase & Co. filed to introduce structured notes linked to IBITs. Tim Sun believes other issuers may follow.
“It is reasonable to expect that more structured products will use IBIT as an underlying asset, which is a natural result of deeper institutional participation in the first cryptocurrency,” he noted.
On the topic: Strategy shares may lose their place in the Nasdaq 100 index — JPMorgan Chase
This article does not contain investment advice or recommendations. Every investment and trading decision involves risk, and readers should conduct their own research before making decisions.
Source: cryptonews.net
