Deep Tide TechFlow update: On July 15, the U.S. Securities and Exchange Commission (SEC) approved a rule change application submitted by NYSE American, significantly increasing the options position and open interest limits for BlackRock’s spot Bitcoin ETF IBIT from 250,000 contracts to 1,000,000 contracts, effective immediately.

Earlier, the Nasdaq ISE, Nasdaq PHLX, and BOX exchanges had all approved similar proposals. In its filing, NYSE American noted that the current 250,000-contract cap constrains institutional investors’ hedging and return strategies, while also limiting market makers’ ability to provide liquidity. Raising the limit will help it compete with over-the-counter markets and provide more effective risk management tools for institutional investors.