By the end of April 2026, the U.S. SEC approved Nasdaq to significantly increase the options position limit for BlackRock's Bitcoin spot ETF iBIT from 250,000 contracts to 1 million contracts, a fourfold increase. This move is a key regulatory adjustment targeting the maturity of market structure and a surge in institutional demand—previously, the limit had already become an expensive constraint in front of major institutions. In addition to removing capital barriers, the breakthrough is widely interpreted as a “vote of confidence” from regulators in Bitcoin’s liquidity and market size.

From the perspective of market impact, its structural significance is very clear. This expansion will accelerate the entry of large capital, effectively broaden compliant channels, and help Bitcoin evolve from a highly volatile speculative asset toward an “institutional standard allocation.” At the same time, a deeper options market is also expected to help suppress volatility over the long term and improve overall pricing efficiency. However, investors also need to stay clear-headed: a higher position limit also brings short-term “gamma” risk—at key price levels, large-scale hedging by market makers may amplify intraday volatility, making short-term price action more unpredictable.
#比特币ETF期权持仓限额增4倍