Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 8.30 (Position Limits), Interpretation and Policy .07, To Increase the Position and Exercise Limits for Options on iShares Bitcoin Trust ETF

mission.\9\ In considering the appropriate position and exercise limits for IBIT, the Exchange reviewed the data presented by ISE in the ISE Approval. --------------------------------------------------------------------------- \9\ See Securities Exchange Act Release No. 105317 (April 27, 2026), 91 FR 23333 (April 30, 2026) (SR-ISE-2025-26) (``ISE Approval''). --------------------------------------------------------------------------- The position limit for options on IBIT is currently set pursuant to Rule 8.30, Interpretation and Policy .07 where the largest in capitalization and the most frequently traded stocks and ETFs have an option position limit of 250,000 contracts (with adjustments for splits, re-capitalizations, etc.) on the same side of the market; and smaller capitalization stocks and ETFs have position limits of 200,000, 75,000, 50,000 or 25,000 contracts (with adjustments for splits, recapitalizations, etc.) on the same side of the market. The Exchange notes that the proposed position and exercise limits for options on IBIT are consistent with existing position limits and exercise limits for options on iShares MSCI Emerging Markets, iShares China Large-Cap ETF and iShares MSCI EAFE ETF. Composition and Growth Analysis for Underlying ETFs As stated above, position (and exercise) limits are intended to prevent the establishment of options positions that can be used o