IEX Files Immediate Rule Change for Crypto Trust Options and Bitcoin ETF Limits

On September 22, 2026, Investors Exchange LLC filed a proposed rule change with the Securities and Exchange Commission (File No. SR-IEX-2026-34, Release No. 34-106575). The filing, published in the Federal Register on October 2, 2026 (FR Doc No. 2026-20505), is designated non-controversial and is effective immediately upon filing.

The amendment to Rule 20.120(i) and Rule 20.130(g) would create a generic listing standard for options on Commodity-Based Trusts that hold a single crypto asset or multiple crypto assets. To qualify, each underlying crypto asset must have an average daily market value of at least $700 million over the last 12 months, and must underlie a derivatives contract that trades on a market with which IEX has a comprehensive surveillance sharing agreement.

The proposal also amends Rule 19.160 (Position Limits) and Rule 19.180 (Exercise Limits) to establish specific limits for options on the iShares Bitcoin Trust ETF (IBIT). These limits are intended to align IEX's position and exercise parameters with those already approved for other options exchanges.

IEX characterizes the changes as competitive and substantively identical to proposals previously approved for other exchanges. The updates are timed to precede the launch of IEX Options, which the Exchange plans to commence on October 2, 2026.