{"description":"Documents matching 'bitcoin'","count":734,"total_pages":37,"next_page_url":"https://www.federalregister.gov/api/v1/documents?conditions%5Bterm%5D=bitcoin&format=json&page=2","results":[{"title":"Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Nasdaq Bitcoin Index Options; Correction","type":"Notice","abstract":"The Securities and Exchange Commission published a document in the Federal Register on May 28, 2026, concerning Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, to List and Trade Nasdaq Bitcoin Index Options. The document contained an error.","document_number":"2026-15837","html_url":"https://www.federalregister.gov/documents/2026/08/05/2026-15837/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-of-amendment-no-1-and-order-granting","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-08-05/pdf/2026-15837.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-15837.pdf?1785847508","publication_date":"2026-08-05","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"Securities and Exchange Commission published a document in the \n Federal Register \n on May 28, 2026, concerning Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, to List and Trade Nasdaq <span class=\"match\">Bitcoin</span> Index Options. The document contained an error.\n \n \n \n FOR FURTHER INFORMATION CONTACT: \n Lloyd Ellis, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549, (202) 551-5400. \n \n \n \n SUPPLEMENTARY INFORMATION: \n Correction \n \n In the \n Federal Register"},{"title":"Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF, Grayscale Bitcoin Trust ETF, Grayscale Bitcoin Mini Trust and Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-16184","html_url":"https://www.federalregister.gov/documents/2025/08/25/2025-16184/self-regulatory-organizations-memx-llc-notice-of-filing-and-immediate-effectiveness-of-proposed","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-25/pdf/2025-16184.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-16184.pdf?1755866712","publication_date":"2025-08-25","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"Rulebook Chapter 350 (description of CME <span class=\"match\">Bitcoin</span> Futures) and Chapter 5, Position Limit, Position Accountability and Reportable Level Table in the Interpretations &amp; Special Notices. Each CME <span class=\"match\">Bitcoin</span> futures contract is valued at five <span class=\"match\">Bitcoins</span> as defined by the CME CF <span class=\"match\">Bitcoin</span> Reference Rate (“BRR”). \n See \n CME Rule 35001.\n \n \n \n \n 35 \n  2,000 futures at a 5 <span class=\"match\">Bitcoin</span> multiplier (per the contract specifications) equates to $949,450,000 (2000 contracts * 5 <span class=\"match\">Bitcoin</span> per contract * $94,945 price of November <span class=\"match\">Bitcoin</span> future) of notional value.\n \n \n \n \n 36"},{"title":"Policy Statement Concerning the Listing of Perpetual Contracts","type":"Notice","abstract":"This policy statement describes the views of the Commodity Futures Trading Commission (the \"CFTC\" or \"Commission\") concerning the listing of perpetual contracts. Contemporaneously with the issuance of this policy statement, the Commission has issued an order (the \"Order\") permitting the listing of a perpetual contract that references the spot price of bitcoin by a designated contract market (\"DCM\") as a futures contract. Given the unique characteristics of perpetual contracts, which tend to vary based on the underlying asset they reference, the Commission is of the view that the case-by-case review process detailed in Commission Regulation 40.3 is appropriate for the listing of perpetual contracts that reference asset classes that are not contemplated in the Order.","document_number":"2026-11020","html_url":"https://www.federalregister.gov/documents/2026/06/03/2026-11020/policy-statement-concerning-the-listing-of-perpetual-contracts","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-03/pdf/2026-11020.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-11020.pdf?1780404307","publication_date":"2026-06-03","agencies":[{"raw_name":"COMMODITY FUTURES TRADING COMMISSION","name":"Commodity Futures Trading Commission","id":77,"url":"https://www.federalregister.gov/agencies/commodity-futures-trading-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/77","parent_id":null,"slug":"commodity-futures-trading-commission"}],"excerpts":"Commission (the “CFTC” or “Commission”) concerning the listing of perpetual contracts. Contemporaneously with the issuance of this policy statement, the Commission has issued an order (the “Order”) permitting the listing of a perpetual contract that references the spot price of <span class=\"match\">bitcoin</span> by a designated contract market (“DCM”) as a futures contract. Given the unique characteristics of perpetual contracts, which tend to vary based on the underlying asset they reference, the Commission is of the view that the case-by-case review process detailed in Commission"},{"title":"Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Rules Regarding the Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF, Grayscale Bitcoin Trust ETF, Grayscale Bitcoin Mini Trust BTC, and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-15321","html_url":"https://www.federalregister.gov/documents/2025/08/13/2025-15321/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-13/pdf/2025-15321.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-15321.pdf?1755002709","publication_date":"2025-08-13","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"Rulebook Chapter 350 (description of CME <span class=\"match\">Bitcoin</span> Futures) and Chapter 5, Position Limit, Position Accountability and Reportable Level Table in the Interpretations &amp; Special Notices. Each CME <span class=\"match\">Bitcoin</span> futures contract is valued at five <span class=\"match\">Bitcoins</span> as defined by the CME CF <span class=\"match\">Bitcoin</span> Reference Rate (“BRR”). \n See \n CME Rule 35001.\n \n \n \n \n 34 \n  2,000 futures at a 5 <span class=\"match\">Bitcoin</span> multiplier (per the contract specifications) equates to $949,450,000 (2000 contracts * 5 <span class=\"match\">Bitcoin</span> per contract * $94,945 price of November <span class=\"match\">Bitcoin</span> future) of notional value.\n \n \n \n \n 35"},{"title":"Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing of Proposed Rule Change To Amend BOX Rule 5055 (FLEX Equity Options) To Permit FLEX Equity Options on the Grayscale Bitcoin Trust, the Grayscale Bitcoin Mini Trust, and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-21980","html_url":"https://www.federalregister.gov/documents/2025/12/05/2025-21980/self-regulatory-organizations-box-exchange-llc-notice-of-filing-of-proposed-rule-change-to-amend-box","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-12-05/pdf/2025-21980.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-21980.pdf?1764855911","publication_date":"2025-12-05","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"(July 29, 2025), 90 FR 36250 (August 1, 2025) (SR-NYSEAMER-2024-78) (Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, to Permit the Trading of FLEX Options on Shares of the Grayscale <span class=\"match\">Bitcoin</span> Trust, the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust ETF, and the Bitwise <span class=\"match\">Bitcoin</span> ETF).\n \n \n Background \n \n Each Fund is an ETF that holds <span class=\"match\">bitcoin</span> and is listed on NYSE Arca, Inc. (“NYSE Arca”).\n 5 \n \n Recently, the Commission approved options trading on the Funds.\n 6 \n \n For each Fund, the position and exercise limits are determined pursuant to Rules"},{"title":"Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF, the Grayscale Bitcoin Mini Trust ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust ETF","type":"Notice","abstract":null,"document_number":"2025-15072","html_url":"https://www.federalregister.gov/documents/2025/08/08/2025-15072/self-regulatory-organizations-nasdaq-bx-inc-notice-of-filing-and-immediate-effectiveness-of-proposed","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-08/pdf/2025-15072.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-15072.pdf?1754570741","publication_date":"2025-08-08","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"trading IBIT options on November 19, 2024.\n \n \n \n \n 8 \n  Options on Fidelity Wise Origin <span class=\"match\">Bitcoin</span> Fund, ARK 21Shares <span class=\"match\">Bitcoin</span> ETF, Grayscale <span class=\"match\">Bitcoin</span> Trust (BTC), Grayscale <span class=\"match\">Bitcoin</span> Mini Trust BTC, and Bitwise <span class=\"match\">Bitcoin</span> ETF are also subject to a 25,000 contract position and exercise limit.\n \n \n \n Per the Commission “rules regarding position and exercise limits are intended to prevent the establishment of options positions that can be used or might create incentives to manipulate or disrupt the underlying market so as to benefit the options positions.” "},{"title":"Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF, the Grayscale Bitcoin Mini Trust ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust ETF","type":"Notice","abstract":null,"document_number":"2025-15071","html_url":"https://www.federalregister.gov/documents/2025/08/08/2025-15071/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-08/pdf/2025-15071.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-15071.pdf?1754570715","publication_date":"2025-08-08","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"trading IBIT options on November 19, 2024.\n \n \n \n \n 8 \n  Options on Fidelity Wise Origin <span class=\"match\">Bitcoin</span> Fund, ARK 21Shares <span class=\"match\">Bitcoin</span> ETF, Grayscale <span class=\"match\">Bitcoin</span> Trust (BTC), Grayscale <span class=\"match\">Bitcoin</span> Mini Trust BTC, and Bitwise <span class=\"match\">Bitcoin</span> ETF are also subject to a 25,000 contract position and exercise limit.\n \n \n \n Per the Commission “rules regarding position and exercise limits are intended to prevent the establishment of options positions that can be used or might create incentives to manipulate or disrupt the underlying market so as to benefit the options positions.” "},{"title":"Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rules 4.20 and 8.35 To Permit Flexible Exchange Options on iShares Bitcoin Trust, Grayscale Bitcoin Trust, the Grayscale Bitcoin Mini Trust, and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-15834","html_url":"https://www.federalregister.gov/documents/2025/08/20/2025-15834/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-20/pdf/2025-15834.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-15834.pdf?1755607512","publication_date":"2025-08-20","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"FLEX Options on Shares of the iShares <span class=\"match\">Bitcoin</span> Trust ETF) (“Phlx FLEX Approval Order”).\n \n \n \n \n 5 \n  \n See \n Securities Exchange Act Release No. 103566 (July 29, 2025), 90 FR 36250 (August 1, 2025) (SR-NYSEAMER-2024-78) (Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, to Permit the Trading of FLEX Options on Shares of the Grayscale <span class=\"match\">Bitcoin</span> Trust, the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust ETF, and the Bitwise <span class=\"match\">Bitcoin</span> ETF) (“NYSE FLEX Approval Order”).\n \n \n \n Each Fund is an ETF that holds <span class=\"match\">bitcoin</span>. GBTC, BTC and BITB are listed on NYSE"},{"title":"Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend BOX Rule 3120 To Increase the Position and Exercise Limits for the Grayscale Bitcoin Mini Trust ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust ETF","type":"Notice","abstract":null,"document_number":"2025-16180","html_url":"https://www.federalregister.gov/documents/2025/08/25/2025-16180/self-regulatory-organizations-box-exchange-llc-notice-of-filing-and-immediate-effectiveness-of","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-25/pdf/2025-16180.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-16180.pdf?1755866748","publication_date":"2025-08-25","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"equivalent to the CME position limit for <span class=\"match\">bitcoin</span> futures (considering that all options deltas are &lt;=1.00) should be a bit higher than the CME implied limit of 177,004.\n \n \n \n 43 \n  CME <span class=\"match\">Bitcoin</span> Futures are described in Chapter 350 of CME's Rulebook.\n \n \n \n \n 44 \n  \n See \n the Position Accountability and Reportable Level Table in the Interpretations &amp; Special Notices Section of Chapter 5 of CME's Rulebook. Each CME <span class=\"match\">bitcoin</span> futures contract is valued at five <span class=\"match\">bitcoins</span> as defined by the CME CF <span class=\"match\">Bitcoin</span> Reference Rate (“BRR”). \n See \n CME Rule 35001"},{"title":"Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend FLEX, Position and Exercise Limit Rules for the Grayscale Bitcoin Mini Trust ETF, the Bitwise Bitcoin ETF, and the Grayscale Bitcoin Trust ETF","type":"Notice","abstract":null,"document_number":"2025-15076","html_url":"https://www.federalregister.gov/documents/2025/08/08/2025-15076/self-regulatory-organizations-nasdaq-ise-llc-notice-of-filing-and-immediate-effectiveness-of","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-08/pdf/2025-15076.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-15076.pdf?1754570716","publication_date":"2025-08-08","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"equivalent to the CME position limit for <span class=\"match\">bitcoin</span> futures (considering that all options deltas are &lt;=1.00) should be a bit higher than the CME implied limit of 177,004.\n \n \n \n 41 \n  CME <span class=\"match\">Bitcoin</span> Futures are described in Chapter 350 of CME's Rulebook.\n \n \n \n \n 42 \n  \n See \n the Position Accountability and Reportable Level Table in the Interpretations &amp; Special Notices Section of Chapter 5 of CME's Rulebook. Each CME <span class=\"match\">bitcoin</span> futures contract is valued at five <span class=\"match\">bitcoins</span> as defined by the CME CF <span class=\"match\">Bitcoin</span> Reference Rate (“BRR”). \n See \n CME Rule 35001"},{"title":"Self-Regulatory Organizations; NYSE American LLC; Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Permit the Trading of FLEX Options on Shares of the Grayscale Bitcoin Trust, the Grayscale Bitcoin Mini Trust ETF, and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-14546","html_url":"https://www.federalregister.gov/documents/2025/08/01/2025-14546/self-regulatory-organizations-nyse-american-llc-order-approving-a-proposed-rule-change-as-modified","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-01/pdf/2025-14546.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-14546.pdf?1753965910","publication_date":"2025-08-01","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" \n \n 8 \n  Among other things, Amendment No. 1 expands the scope of the proposal to permit FLEX options on the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust ETF (“BTC”), and the Bitwise <span class=\"match\">Bitcoin</span> ETF (“BITB”), as well as GBTC (each a “Fund” and, collectively, the “Funds”). Amendment No. 1 also makes technical corrections to Exchange Rule 904, Commentary .07(f), to update the name of the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust (BTC) to the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust ETF and correct the symbol associated with the Fidelity Ethereum Fund from “ETH” to “FETH.”\n \n \n \n \n 9 \n  \n See"},{"title":"Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend Exchange Rule 307, Position Limits, and Exchange Rule 309, Exercise Limits To Allow the Exchange To Increase the Position and Exercise Limits for Grayscale Bitcoin Trust ETF, Grayscale Bitcoin Mini Trust ETF, and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-16181","html_url":"https://www.federalregister.gov/documents/2025/08/25/2025-16181/self-regulatory-organizations-miami-international-securities-exchange-llc-notice-of-filing-and","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-08-25/pdf/2025-16181.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-16181.pdf?1755866748","publication_date":"2025-08-25","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" and the Bitwise <span class=\"match\">Bitcoin</span> ETF) (“Cboe Approval Order”); \n and \n 103643 (August 5, 2025) (SR-ISE-2025-22) (Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend FLEX, Position and Exercise Limit Rules for the Grayscale <span class=\"match\">Bitcoin</span> Mini Trust ETF, the Bitwise <span class=\"match\">Bitcoin</span> ETF, and the Grayscale <span class=\"match\">Bitcoin</span> Trust ETF) (“ISE Approval Order”).\n \n \n \n Each <span class=\"match\">Bitcoin</span> ETF is an exchange-traded fund (“ETF”) that holds <span class=\"match\">Bitcoin</span> and is listed on a national equities exchange.\n 6 \n \n In November 2024, the"},{"title":"Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Amendment No. 2, and Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 2, To Amend Rules Regarding Position and Exercise Limits for Options on the Grayscale Bitcoin Mini Trust ETF and the Bitwise Bitcoin ETF To Permit Flexible Exchange Options on the Grayscale Bitcoin Mini Trust and the Bitwise Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2025-09259","html_url":"https://www.federalregister.gov/documents/2025/05/23/2025-09259/self-regulatory-organizations-nyse-arca-inc-notice-of-filing-of-amendment-no-2-and-order-instituting","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-05-23/pdf/2025-09259.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-09259.pdf?1747917912","publication_date":"2025-05-23","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"redemption process managed through the issuer (whereby <span class=\"match\">bitcoin</span> is used to create shares of BTC or BITB, as applicable), the position (and exercise) limit can be compared to the total market capitalization of the entire <span class=\"match\">bitcoin</span> market, and in that case, the exercisable risk for options on each Fund would represent less than 0.06% (BTC) or 0.07% (BITB) of all <span class=\"match\">bitcoin</span> outstanding.\n 40 \n \n \n \n \n 36 \n  \n See https://www.coingecko.com/en/coins/<span class=\"match\">bitcoin</span> \n .\n \n \n \n \n 37 \n  This is the approximate price of <span class=\"match\">bitcoin</span> from 4 p.m. ET on November 25, 2024.\n \n \n \n \n 38"},{"title":"Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Cboe Bitcoin U.S. ETF Index Options (“CBTX”) and Cboe Mini Bitcoin U.S. ETF Index Options (“MBTX”) Standard Transaction Fees","type":"Notice","abstract":null,"document_number":"2026-12028","html_url":"https://www.federalregister.gov/documents/2026/06/16/2026-12028/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-06-16/pdf/2026-12028.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-12028.pdf?1781527509","publication_date":"2026-06-16","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" \n 1 \n  15 U.S.C. 78s(b)(1).\n \n \n \n \n 2 \n  17 CFR 240.19b-4.\n \n \n I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change \n Cboe Exchange, Inc. (the “Exchange” or “Cboe Options”) proposes to amend Cboe <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“CBTX”) and Cboe Mini <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“MBTX”) standard transaction fees. The text of the proposed rule change is provided in Exhibit 5. \n \n The text of the proposed rule change is also available on the Commission's website (\n https://www.sec.gov/rules/sro.shtml"},{"title":"Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Nasdaq Bitcoin Index Options","type":"Notice","abstract":null,"document_number":"2026-10537","html_url":"https://www.federalregister.gov/documents/2026/05/28/2026-10537/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-of-amendment-no-1-and-order-granting","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-28/pdf/2026-10537.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-10537.pdf?1779885907","publication_date":"2026-05-28","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"Amendments Thereto, to List and Trade <span class=\"match\">Bitcoin</span>-Based Commodity-Based Trust Shares and Trust Units) (“Spot <span class=\"match\">Bitcoin</span> ETPs Approval Order”). The ETPs approved in these filings were: the Grayscale <span class=\"match\">Bitcoin</span> Trust (BTC); the Bitwise <span class=\"match\">Bitcoin</span> ETF; the Hashdex <span class=\"match\">Bitcoin</span> ETF; the iShares <span class=\"match\">Bitcoin</span> Trust; the Valkyrie <span class=\"match\">Bitcoin</span> Fund; the ARK 21Shares <span class=\"match\">Bitcoin</span> ETF; the Invesco Galaxy <span class=\"match\">Bitcoin</span> ETF; the VanEck <span class=\"match\">Bitcoin</span> Trust; the WisdomTree <span class=\"match\">Bitcoin</span> Fund; the Fidelity Wise Origin <span class=\"match\">Bitcoin</span> Fund; and the Franklin <span class=\"match\">Bitcoin</span> ETF (collectively “Spot <span class=\"match\">Bitcoin</span> ETPs”).\n \n \n \n Since January 2024"},{"title":"Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Cboe Bitcoin U.S. ETF Index Options (“CBTX”) and Cboe Mini Bitcoin U.S. ETF Index Options (“MBTX”) Standard Transaction Fees","type":"Notice","abstract":null,"document_number":"2026-19863","html_url":"https://www.federalregister.gov/documents/2026/09/29/2026-19863/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-09-29/pdf/2026-19863.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-19863.pdf?1790599514","publication_date":"2026-09-29","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" 1 \n  15 U.S.C. 78s(b)(1).\n \n \n \n \n 2 \n  17 CFR 240.19b-4.\n \n \n \n I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change \n Cboe Exchange, Inc. (the “Exchange” or “Cboe Options”) proposes to amend Cboe <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“CBTX”) and Cboe Mini <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“MBTX”) standard transaction fees. The text of the proposed rule change is provided in Exhibit 5. \n \n The text of the proposed rule change is also available on the Commission's website (\n https://www.sec.gov/rules/sro.shtml"},{"title":"Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Cboe Bitcoin U.S. ETF Index Options (“CBTX”) and Cboe Mini Bitcoin U.S. ETF Index Options (“MBTX”) Standard Transaction Fees","type":"Notice","abstract":null,"document_number":"2026-15829","html_url":"https://www.federalregister.gov/documents/2026/08/05/2026-15829/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-08-05/pdf/2026-15829.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-15829.pdf?1785847507","publication_date":"2026-08-05","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":" \n 1 \n  15 U.S.C. 78s(b)(1).\n \n \n \n \n 2 \n  17 CFR 240.19b-4.\n \n \n I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change \n Cboe Exchange, Inc. (the “Exchange” or “Cboe Options”) proposes to amend Cboe <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“CBTX”) and Cboe Mini <span class=\"match\">Bitcoin</span> U.S. ETF Index options (“MBTX”) standard transaction fees. The text of the proposed rule change is provided in Exhibit 5. \n \n The text of the proposed rule change is also available on the Commission's website (\n https://www.sec.gov/rules/sro.shtml"},{"title":"Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing of Proposed Rule Change to List and Trade Nasdaq Bitcoin Index Options","type":"Notice","abstract":null,"document_number":"2025-18797","html_url":"https://www.federalregister.gov/documents/2025/09/29/2025-18797/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-of-proposed-rule-change-to-list-and","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2025-09-29/pdf/2025-18797.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2025-18797.pdf?1758890711","publication_date":"2025-09-29","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"comprising $58 billion of assets as of July 18, 2024: iShares <span class=\"match\">Bitcoin</span> Trust (IBIT), Grayscale <span class=\"match\">Bitcoin</span> Trust (GBTC), Fidelity Wise Origin <span class=\"match\">Bitcoin</span> Fund (FBTC), ARK 21Shares <span class=\"match\">Bitcoin</span> ETF (ARKB), Bitwise <span class=\"match\">Bitcoin</span> ETF Trust (BUTB), VanEck <span class=\"match\">Bitcoin</span> Trust (HODL), Coinshares Valkyrie <span class=\"match\">Bitcoin</span> Fund (BRRR), Invesco Galaxy <span class=\"match\">Bitcoin</span> ETF (BTCO), Franklin <span class=\"match\">Bitcoin</span> ETF (EZBC). (See \n https://etfdb.com/index/cme-cf-benchmarks-<span class=\"match\">Bitcoin</span>-reference-rate-new-york-variant \n ).\n \n \n \n \n 4 \n  Today, CME CF <span class=\"match\">Bitcoin</span> Futures contracts are settled using the BRRNY.\n \n \n Options on"},{"title":"Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the ARK 21Shares Bitcoin ETF","type":"Notice","abstract":null,"document_number":"2026-06353","html_url":"https://www.federalregister.gov/documents/2026/04/02/2026-06353/self-regulatory-organizations-cboe-bzx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-04-02/pdf/2026-06353.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-06353.pdf?1775047511","publication_date":"2026-04-02","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"forth in such Rule.\n \n \n \n 3 \n  \n See \n Securities Exchange Act No. 99306 (January 10, 2024) 89 FR 3008 (January 17, 2024) (Order Granting Accelerated Approval of Proposed Rule Changes, as Modified by Amendments Thereto, To List and Trade <span class=\"match\">Bitcoin</span>-Based Commodity-Based Trust Shares and Trust Units) (the “<span class=\"match\">Bitcoin</span> ETP Approval Order”).\n \n \n \n \n 4 \n  \n See \n Securities Exchange Act No. 103995 (September 17, 2025) 90 FR 45414 (September 22, 2025) (SR-CboeBZX-2025-104) (Order Granting Accelerated Approval of Proposed Rule Changes, as Modified by Amendments"},{"title":"Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Position and Exercise Limits for Options on iShares Bitcoin Trust ETF","type":"Notice","abstract":null,"document_number":"2026-10140","html_url":"https://www.federalregister.gov/documents/2026/05/21/2026-10140/self-regulatory-organizations-nasdaq-phlx-llc-notice-of-filing-and-immediate-effectiveness-of-a","pdf_url":"https://www.govinfo.gov/content/pkg/FR-2026-05-21/pdf/2026-10140.pdf","public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2026-10140.pdf?1779281109","publication_date":"2026-05-21","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"excerpts":"managed through the issuer, the position limit was compared to the total market capitalization of the entire <span class=\"match\">Bitcoin</span> market and in that case, the exercisable risk for options on IBIT represented 0.278% of all <span class=\"match\">Bitcoin</span> outstanding.\n 27 \n \n Assuming a scenario in which all options on IBIT shares were exercised given the proposed 1,000,000-contract position limit (and exercise limit), it would have a virtually unnoticed impact on the entire <span class=\"match\">Bitcoin</span> market. This analysis demonstrates that the proposed 1,000,000 per same side position and exercise limit is"}]}