MIAX Reinstates Key Options Expiries for BlackRock's Bitcoin ETF
MIAX, the U.S. options exchange group, has reinstated Monday and Wednesday short-term expiries for options on BlackRock's iShares Bitcoin Trust ETF (IBIT) following a rule overhaul.
The move comes after IBIT was removed from MIAX's third-quarter roster in July, but was listed again under a new Tier 2 framework that lowers the threshold for eligible ETFs to more than $25 billion in assets under management (AUM).
According to MIAX's Pearl rule notice, Tier 1 keeps the old tests of more than $50 billion in AUM and more than 10 million monthly options sides, while Tier 2 cuts those gates to more than $25 billion and more than 5 million sides.
The expansion does not create IBIT expirations on every business day, with Tier 2 allowing no more than two Monday and two Wednesday expiries beyond the current week at one time. The contracts are P.M.-settled, and MIAX does not list a Tier 2 expiry on a date that coincides with a standard, monthly or quarterly expiration.