According to a public regulatory document, Nasdaq has submitted an application to the U.S. Securities and Exchange Commission (SEC) to increase the position limit of the BlackRock Spot Bitcoin ETF (IBIT) from 25,000 to 250,000. It should be noted that this application still needs the approval of the SEC to take effect. The position limit refers to the maximum share of the ETF that a single investor or institution can hold. The director of Bitwise Alpha Strategies said: "Considering the increasing trading volume of the ETF, it is reasonable to at least increase the position limit to 400,000. The demands of Nasdaq and BlackRock are reasonable and supported by facts."