some misinformation that is going around that i wanted to address quickly-
there's been a rumor that Nasdaq has removed the option position limit for IBIT and therefore gives wall street unlimited leverage, and that the timing of this change is suspect because it was in january, right before these options led activities
this is false
"removing restrictions on criterion of crypto assets" does not equate to "no restrictions" - it simply is undoing the damage of their prior administration that penalized crypto with non-standard limits
the link that is being posted to share this rumor is this: https://t.co/fVrWaqbliy
if you look at the filing carefully, what the order is asking for is the removal of the 25k limit for FBTC, ARKB, HODL and the Ethereum ETFs. I screenshotted the relevant section below. the reason IBIT is not included is because as those who are keeping track of these would already know, that IBIT (and BITB too!) enjoys the standard position limit of 250k the maximum allowed under rules set in Option 9, section 13/15- i covered this in my prior tweets. what this does filing does is it streamlines all other Bitcoin ETF issuers to essentially have the same OI limit - ie level the playing field! as it says so: "proposed rule change is consistent with... requirement that rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers"
furthermore, and this is more important and substantial- there was a filing in November last year for IBIT to increase the limit from 250k to 1mm! You can see that here: https://t.co/jqZQBAktPz
this has not been granted yet, but this is the one to watch
one more thing - i see X citizens asking LLM agents to confirm whether something is true or not, and I see Grok in particular firing off incorrect statements. as ive said before and will always continue to advocate for, exhibiting a will to live life with high agency to DYOR is a wonderful trait to nourish. if something seems a little sus, its always worth checking it out for yourself (things i say included!). for example, you can check this yourself by going on the OCC database and see: IBIT still has the 250k limit, as do the rest
I have come to this point in my career by the grace of God. It is He who gave me the strength to fight. I can look back and honestly say that I gave my best. My family and you, the fans, have been with me all the way. I will not focus on the defeat,but instead count my blessings!