Nasdaq Seeks Increase in Trading Limit for Options on BlackRock's Bitcoin ETF to 1 Million

Summary: Nasdaq, a leading U.S. exchange, is aiming to significantly increase the trading limit for options linked to BlackRock’s iShares Bitcoin Trust (IBIT). The proposed rise from 250,000 contracts to 1 million reflects the growing investor interest in Bitcoin and exchange-traded funds (ETFs).

Key Takeaways

Nasdaq has requested to increase the daily options trading limit for BlackRock's iShares Bitcoin Trust (IBIT) from 250,000 to 1 million contracts due to increasing investor demand.
This is Nasdaq's second attempt to expand trading capacity for IBIT options; the first request successfully raised the limit to its current figure in July 2025.
The iShares Bitcoin Trust has emerged as the largest Bitcoin ETF with approximately $70 billion in assets and 98% of Bitcoin ETF options.
Institutional interest continues to rise, as demonstrated by JPMorgan’s recent filing to issue structured notes linked to IBIT.

Nasdaq files to raise trading limit for options trading on BlackRock Bitcoin ETF

BlackRock and Bitcoin

Nasdaq's Proposal for Increased Trading Options

Nasdaq is pushing to significantly enhance its trading capabilities for options related to BlackRock's iShares Bitcoin Trust (IBIT). In a filing made to the SEC on Wednesday, Nasdaq requested that the current daily limit for IBIT’s options trading be raised from 250,000 contracts to a staggering 1 million. This request is largely driven by a sharp uptick in investor interest.

Previous Attempts to Expand Trading Capacity

This request marks Nasdaq's second attempt at boosting trading limits for IBIT options. The first time was back in January, shortly after the SEC approved options trading for this Bitcoin ETF. Initially, Nasdaq sought an increase from 25,000 contracts to the current limit of 250,000. The SEC approved this increase in July 2025. Given the surge in trading activity, Nasdaq now believes that the existing limit is insufficient and is seeking regulatory approval to raise it to 1 million contracts.

IBIT's Position in the Bitcoin ETF Landscape

The iShares Bitcoin Trust has established itself as a key player in the regulated Bitcoin derivatives market. Holding approximately $70 billion in assets, it is not only the largest Bitcoin ETF but also a major contributor to Bitcoin ETF options activity. In October, open interest in IBIT options soared to over $50 billion, putting it on par with the world’s leading crypto options exchange, Deribit. Data from Bloomberg shows that IBIT options represent 98% of total Bitcoin ETF options and 96% of the total open interest across these products.

Growing Institutional Demand for IBIT

The demand from institutional investors for IBIT continues to rise. Recently, JPMorgan filed to issue structured notes linked to IBIT, a move that analysts believe could prompt more issuers to follow suit. Currently, IBIT boasts around $70 billion in net assets, a figure that had previously exceeded $100 billion earlier in the year. However, volatility in Bitcoin's price and ongoing outflows have recently diminished the net value of BlackRock's BTC holdings.

Interestingly, the trend regarding outflows shifted in the past two days, with IBIT attracting $125.8 million in inflows. This has boosted its net inflows to $62.68 billion. As of November 26, IBIT has 1.37 billion outstanding shares and a 30-day average trading volume of $73.78 billion.

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