PANews reported on April 30 that, according to an official announcement, the U.S. Securities and Exchange Commission (SEC) has approved a rule change proposal submitted by the Nasdaq ISE exchange, increasing the position and exercise limit for iShares Bitcoin Trust ETF (IBIT) options from 250,000 contracts to 1 million contracts. The SEC believes that IBIT has sufficient liquidity and market size, therefore increasing the limit will not increase the risk of market manipulation. The 1 million contract position limit represents approximately 7.474% of the total circulating supply, and if all contracts are exercised, it would only represent 0.278% of the total circulating supply of Bitcoin. This limit is consistent with the option limit standards for ETFs such as EEM, FXI, and EFA.