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BTC 
ETH The SEC approves the listing of cryptocurrency trust options on the IEX exchange and adjusts the IBIT limit
On October 2, 2026, the U.S. Securities and Exchange Commission (SEC) issued a rule change notice allowing the Investors Exchange (IEX) to list option contracts on commodity-based trusts (commodity trusts) that hold Bitcoin and other crypto assets, and set position and exercise limits for options on Blackstone's iShares Bitcoin Trust ETF (IBIT). The filing document, numbered Release No. 34-106575, was delivered on the same day that IEX's newly established options trading platform "IEX Options" plans to start trading, and the committee has made it effective immediately.
Core content of rule changes
IEX proposes to add common options listing standards for trust products holding a single crypto asset or multiple crypto assets. According to this standard, the underlying asset must maintain an average daily market value of at least US$700 million in the past 12 months. This figure is calculated by multiplying the total global supply by the token price, which must be obtained from public sources such as CoinGecko or CoinMarketCap. In addition, each asset must correspond to a derivative contract that needs to be traded in markets where IEX has a comprehensive surveillance sharing agreement-whether by signing the agreement directly or by joining the Intermarket Surveillance Group. The exchange will verify the value threshold of US$700 million per month and continue to monitor compliance; if the underlying trust no longer meets these conditions, its relevant options will be delisted.
Activation of IBIT Limits and IEX Options
The proposal also aims to align IEX's position and exercise limits on IBIT options with current regulations on other options exchanges. IEX submitted an application for change to this rule on September 22, 2026. Its approved options trading platform "IEX Options" received regulatory approval in September 2025 and will be officially put into trading on October 2, 2026. IEX said its standards for cryptocurrency trust products are essentially the same as those previously approved by regulators for ISE, MEMX, MIAX, BOX, PHLX, NYSE American and NYSE Arca. Since the change raised no new legal or regulatory issues, the SEC waived the normally applicable 30-day effective delay period.
Significance of this move
This rule change adds another venue for trading spot bitcoin and Ethereum fund options in the United States. At present, such encryption products have become one of the most heavily traded encryption investment vehicles in the United States. Options provide traders with a lower-cost hedging tool to manage their exposure to these funds. At the same time, exchange-traded crypto products are receiving increasing regulatory attention. Recently, the SEC approved a rule for the NASDAQ Texas branch to add a digital commodity definition to crypto ETPs; and NYSE Arca has also previously launched options trading for Zcash ETFs. As the proposal is published in the Federal Register, the public will have 21 days to comment.
