According to a publicly available regulatory document, Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) to raise the position limit for BlackRock's spot Bitcoin ETF (IBIT) from 25,000 to 250,000 shares. It is important to note that this application also requires SEC approval to take effect. The position limit refers to the maximum number of shares of this ETF that a single investor or institution can hold.

The head of Bitwise Alpha Strategies stated: 'Given the continuously rising trading volume of this ETF, it is reasonable to raise the position limit to at least 400,000 shares. Nasdaq and BlackRock's request is reasonable and supported by factual evidence.'