The Nasdaq Stock Exchange has submitted an official filing to the U.S. Securities and Exchange Commission (SEC) requesting a modification of the position limits for options contracts on the iShares Bitcoin Trust (IBIT) managed by BlackRock, the world's largest asset manager.

The request aims to increase the contract holding limit from traditional levels to one million contracts, which is the maximum allowed by the exchange.

Options contracts are advanced financial instruments that give investors the right (but not the obligation) to buy or sell an asset (in this case, units of the IBIT fund) at a specified price on a specified future date. These instruments are used by large investors for hedging or to bet with high leverage. $BTC $BNB