Nasdaq submitted an application to the U.S. Securities and Exchange Commission to raise the position limit of BlackRock's spot Bitcoin ETF from 25,000 shares to 250,000 shares📈. This application still requires SEC approval to take effect. The position limit refers to the maximum number of shares that a single investor or institution can hold.

The director of Bitwise Alpha Strategies pointed out that considering the continuous increase in ETF trading volume, the position limit should be raised to at least 400,000 shares. He believes that Nasdaq and BlackRock's request is reasonable📊. This development could impact the market, but the specific outcome still awaits the decision of the regulatory agency.