Federal Register #SR-MIAX-2026-20

SEC Notice: Rule Change to Increase Options Limits on iShares Bitcoin Trust ETF (IBIT)

This notice details a regulatory action by the Securities and Exchange Commission (SEC) regarding options trading limits: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - iShares (BlackRock) as the issuer of the iShares Bitcoin Trust ETF (IBIT) - Miami International Securities Exchange, LLC (MIAX) and MIAX Pearl, LLC as the exchanges proposing the rule changes - Products/Services Requested: - Increase in position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT) from 250,000 to 1,000,000 contracts - Part number: IBIT - Quantity: 1,000,000 contracts - Unique or Notable Requirements: - The rule change is intended to enhance liquidity, support investor hedging and market-making, and align with similar limits for other ETFs - Surveillance and monitoring measures are emphasized to prevent market manipulation - MIAX Pearl also proposes clarifications for its Short Term Option Series Program regarding Monday and Wednesday expirations for securities with earnings announcements - No procurement of goods or services is involved; this is a regulatory notice affecting trading rules - Place of performance and contracting office: SEC headquarters, 100 F Street NE, Washington, DC

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by the Miami International Securities Exchange, LLC. The rule change proposes to amend Exchange Rule 307 (Position Limits) and Exchange Rule 309 (Exercise Limits) to increase the position and exercise limits for options on the iShares Bitcoin Trust ETF (IBIT) from 250,000 contracts to 1,000,000 contracts. The change aims to accommodate increased demand and trading activity, promote liquidity, and align limits with similar ETFs. The proposed rule change has been filed and is effective immediately.

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