Nasdaq Unlocks Ethereum Options: Crypto Bets Go Legit Overnight
Published Date: 4/17/2025
Notice
Summary
Nasdaq is now letting people trade options on five popular Ethereum funds, including iShares and Grayscale. This change means investors can bet on or protect their Ethereum investments in new ways, starting right away. It’s a big deal for anyone interested in crypto and options trading, opening fresh chances to make money or manage risk.
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Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Options Allowed on Five Ethereum Funds
The Nasdaq Exchange proposed and the Commission accepted listing options on five specified Ether funds: the iShares Ethereum Trust, the Fidelity Ethereum Fund, the Bitwise Ethereum ETF, the Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust. This change makes options on those specific funds able to trade on Nasdaq's options market.
25,000-Contract Position & Exercise Limits
The Exchange amended its rules so that position limits and exercise limits for options on each of the five Ether Trusts are set at 25,000 contracts. The rule change mirrors the Ether Approval Orders and aligns NOM's limits with those adopted by other exchanges.
Rule Became Operative Immediately Upon Filing
The Commission waived the usual 30-day operative delay and designated the proposed rule change as operative upon filing (filed April 9, 2025), so the listing and the 25,000-contract limits apply immediately. The Commission may still temporarily suspend the rule within 60 days if it deems that necessary.
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