NYSE Arca Adds Options for Grayscale Ethereum Trusts
Published Date: 4/17/2025
Notice
Summary
NYSE Arca is updating its rules to let people trade options on three new Ethereum-related ETFs: Grayscale Ethereum Trust, Grayscale Ethereum Mini Trust, and Bitwise Ethereum ETF. This change affects investors interested in these crypto funds and takes effect immediately, opening fresh trading opportunities without new fees. It’s a quick move to keep up with the growing crypto market on the exchange.
Free Policy Watch
New rules are filed every week. Most people never see them.
Pick a topic. PRIA watches every federal rule and tells you when one hits your household.
Pick a topic to get started
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
Options Added for Three Ether ETFs
The Exchange amended Rules 5.3-O, 5.4-O, and 6.8-O to allow listing and trading of options on three Ether funds: Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Mini Trust (ETH), and Bitwise Ethereum ETF (ETHW). The filing was made April 9, 2025 and is immediately effective, but options will not trade until The Options Clearing Corporation (OCC) represents it can clear and settle them.
Position Limit Capped at 25,000 Contracts
The Exchange will set position and exercise limits for options on each of the Ether Funds at 25,000 contracts on the same side of the market, the lowest industry limit and the same limit used for certain bitcoin-backed ETP options.
How Ether Options Will Trade (Settlement & Increments)
Options on the Ether Funds will be physically settled contracts with American-style exercise. Strike price intervals will be $1 or greater when strikes are $200 or less and $5 or greater when strikes are over $200, and minimum quote increments will be $0.05 when a series price is below $3.00 and $0.10 when a series price is $3.00 or higher; the Exchange may also use various listed strike-interval programs and may list weekly, monthly, quarterly, or LEAP series (LEAPS expiring 12–39 months).
FLEX Options Not Eligible for Ether Funds
The Exchange is excluding options on the Ether Funds from FLEX option eligibility at this time, meaning customized FLEX contracts will not be available for ETHE, ETH, or ETHW under this filing.
Suspension Triggers for Ether Fund Options
The Exchange may suspend opening new option series or trading additional series on an Ether Fund if the fund ceases to be an NMS stock, the fund is halted on its primary market, fewer than 50 record/beneficial holders exist for 30+ consecutive trading days after the first 12 months, or the value of the underlying commodity is no longer calculated or available.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in