The Chicago Board Options Exchange plans to modify the quote increment for Mini Bitcoin Index Options

The U.S. Securities and Exchange Commission (SEC) has initiated a review process regarding the proposal submitted by the Chicago Board Options Exchange (Cboe) to amend Rule 5.4, in order to decide whether to approve the adjustment of the minimum quotation increment for Cboe Mini Bitcoin U.S. ETF Index (MBTX) options.

The proposal plans to set the minimum quotation unit for option series with transaction prices below $3 at $0.01, and for series with transaction prices of $3 and above at $0.05. The SEC is currently seeking public comments on the proposal, with a deadline of January 21, 2026.

Cboe stated that MBTX is a mini index that tracks the performance of mainstream Bitcoin spot ETFs in the U.S. market, such as IBIT. This move aims to align the quotation granularity of MBTX options with that of BlackRock iShares Bitcoin Trust (IBIT) options, narrowing the bid-ask spread through finer pricing.