Headline: NYSE lifts 25,000-contract cap on options for 11 spot Bitcoin and Ether ETFs
The New York Stock Exchange’s Arca and American venues have removed a 25,000-contract position and exercise limit for options on 11 spot Bitcoin and Ether ETFs, expanding trading flexibility for those products after SEC filings cleared the agency’s process.
What changed
- On March 10, 2026, both NYSE Arca and NYSE American filed rule changes to eliminate the fixed 25,000-contract cap that had applied to options on certain crypto-linked ETFs since their launches.
- The SEC designated both proposals operative upon filing under Rule 19b-4(f)(6) and waived the standard 30-day operative delay, saying the changes align crypto ETF options rules with how other exchanges treat similar products and do not raise new regulatory concerns. The Federal Register notices reflect this same determination.
Which ETFs are affected
The rule changes apply to options on 11 spot Bitcoin and Ether ETF products:
- BlackRock’s iShares Bitcoin Trust
- Fidelity Wise Origin Bitcoin Fund
- ARK 21Shares Bitcoin ETF
- Grayscale Bitcoin Trust
- Grayscale Bitcoin Mini Trust
- Bitwise Bitcoin ETF
- Grayscale Ethereum Trust ETF
- Grayscale Ethereum Mini Trust ETF
- Bitwise Ethereum ETF
- iShares Ethereum Trust ETF
- Fidelity Ethereum Fund
Context and previous moves
Earlier filings had already removed position caps for a smaller group of Bitcoin ETF options—examples include GBTC, the Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF and IBIT. The March 2026 filings extend similar treatment across the broader set of listed crypto ETF options governed by these NYSE rules.
FLEX options and alignment with other products
The updates also permit these crypto ETF options to trade as FLEX contracts, allowing market participants to customize strike prices, expirations and exercise styles instead of being restricted to only standard listed terms. NYSE American’s filing explicitly states the goal is to treat crypto asset options the same as other options for position, exercise and FLEX trading purposes.
What remains under review
Separately, Nasdaq ISE has proposed raising the position limit for IBIT options to 1 million contracts; that proposal is still under SEC review.
Bottom line
With the 25,000-contract cap removed and FLEX capability enabled, options on a wider swath of spot Bitcoin and Ether ETFs now operate under the broader position-limit framework used for other eligible options—potentially giving traders more latitude to deploy customized strategies.
Read more AI-generated news on: undefined/news
