BOX Exchange joins other exchanges seeking approval from the U.S. Securities and Exchange Commission (SEC) to introduce FLEX equity options on the BlackRock Bitcoin ETF. The SEC is deliberating approval of FLEX options on IBIT under the generic listing rules for submissions from multiple exchanges.
Exchange Seeks Approval of FLEX Options on BlackRock Bitcoin ETF (IBIT)
BOX Exchange is seeking approval to permit FLEX equity options on the BlackRock iShares Bitcoin ETF, according to a US SEC filing dated December 2. The exchange filed the proposal after the prolonged government shutdown ended.
It seeks to amend BOX Rule 5055 to introduce FLEX equity options on the IBIT. This is a competitive filing as similar proposals were submitted by Nasdaq PHLX and Nasdaq ISE. Notably, the latter becomes the first exchange to receive approval to list options on IBIT.
The latest filing comes after BOX Exchange received the SEC approval to increase position and exercise limits for IBIT options. The SEC has not approved FLEX options, other than cash-settled options, on IBIT.
The exchange asserts FLEX IBIT options trading would enable market participants to better manage the risk associated with BlackRock Bitcoin ETF volatility. Also, it will boost liquidity and mitigate counterparty credit risk.
In addition, the exchange has asked the commission to waive the 30-day operative delay period. It claims the move protects investors and ensures fair competition among the exchanges.
BlackRock Awaits Approval on iShares Bitcoin Premium Income ETF
Just before the government shutdown, Nasdaq filed to list and trade BlackRock iShares Bitcoin Premium Income ETF. The fund will provide yields to investors from Bitcoin-linked strategies, including FLEX options.
As CoinGape reported earlier, unlike BlackRock’s IBIT that simply tracks the spot BTC price, the new iShares Bitcoin Premium Income ETF aims to provide a steady yield for income-focused investors.
The SEC is expected to decide on options-linked income ETFs before IBIT and ETHA start operating in compliance with the generic listing standards in 2026 Q1.
BTC Spikes 8% to Mark a Recovery
Bitcoin has jumped by almost 8% over the past 24 hours, with the price currently trading at $93,243. It made a 24-hour low of $86,404 and a high of $93,542. Trading volume also saw a 10% bounce in the last 24 hours, indicating interest among traders.
The reasons behind the sudden recovery included Vanguard listing BlackRock Bitcoin ETF and other crypto funds for trading, liquidity injection by the US Fed as QT ended, and rising December Fed rate cut odds.
The derivatives market saw massive buying, as per CoinGlass data. The total BTC futures open interest climbed 6% to $60.79 in the last 24 hours. The 4-hour BTC futures OI on CME and Binance has jumped further by more than 1.8% and 2.77%, respectively.
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