Nasdaq ISE Adds Options on Multiple Ethereum ETFs
Published Date: 4/17/2025
Notice
Summary
Nasdaq ISE just got the green light to list options on four popular Ethereum funds and trusts, including Fidelity and Grayscale. This means investors can now trade options on these crypto-related funds right on the exchange, starting immediately. It’s a big win for anyone looking to add some Ethereum flavor to their trading game with new, official options.
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Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Options Listed on Four Ethereum Funds
On April 9, 2025, Nasdaq ISE filed a rule change to allow listing and trading of options on four Ether-backed funds: the Fidelity Ethereum Fund, the Bitwise Ethereum ETF (ETHW), the Grayscale Ethereum Trust (ETHE), and the Grayscale Ethereum Mini Trust (ETH). This filing was submitted as immediately effective, so these options may be listed and traded on the Exchange under the Exchange's options rules.
25,000-Contract Position and Exercise Limit
The Exchange proposed a position and exercise limit of 25,000 contracts on the same side for options on the Fidelity Ethereum Fund, the Bitwise Ethereum ETF (ETHW), the Grayscale Ethereum Trust (ETHE), and the Grayscale Ethereum Mini Trust (ETH). This 25,000 same-side limit is set in proposed Supplementary Material .01 to Options 9, Section 13 and to Section 15.
How These Options Will Trade
Options on these Ether trusts will be physically settled and use American-style exercise. The Exchange may list at least one expiration month and also offer weekly, quarterly, and long-term options (LEAPS) that expire from 12 to 39 months, and strike/quote increments will follow the Exchange's existing rules (for example, minimum option increment $0.05 when option price is below $3.00 and $0.10 when $3.00 or higher).
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