The SEC has approved the listing of multiple bitcoin ETF options, with a unilateral position limit of 25,000 contracts
On October 22nd, the Securities Exchange Commission (SEC) approved the listing of multiple Bitcoin ETF options products on the Cboe Exchange and the NYSE American Exchange. Cboe was approved to list options on the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB); NYSE American was approved to list options on the Grayscale Bitcoin Trust ETF (GBTC), Grayscale Bitcoin Mini Trust (BTC) and Bitwise Bitcoin ETF (BITB). Previously, the SEC has approved options trading on BlackRock's iShares Bitcoin Trust (IBIT).
According to the document, the two exchanges have set a limit of 25,000 contracts for each bitcoin ETF option, which is lower than other ETF option products. As of August 30, 2024, GBTC has issued about 367 million shares, with a market value of over $13.40 billion; BITB has issued about 68.7 million shares; FBTC has issued over 201 million shares, with a 6-month trading volume of over 1.10 billion shares; ARKB has issued about 45.5 million shares, and a 6-month trading volume of over 297 million shares.