MIAX Reinstates IBIT Options Expiries Under New Tier 2 Framework

MIAX reinstated Monday and Wednesday short-term options expiries for BlackRock's iShares Bitcoin Trust ETF (IBIT) under a new Tier 2 framework effective August 18, 2026. This change lowers the eligibility threshold to more than $25 billion in assets under management (AUM) and more than 5 million monthly trading sessions.

The IBIT fund had about $43.23 billion on June 30, which falls below the former $50 billion gate but above the new threshold. The Tier 2 framework is limited to Monday and Wednesday expiries, with no more than two expirations beyond the current week at one time.

The change does not amount to a market-wide change in IBIT options trading volume or Bitcoin volatility, according to MIAX. However, it has already reopened additional short-term expiration dates for traders tracking IBIT expirations.