BOX Exchange Enables iShares Ethereum Options Trading Today
Published Date: 4/17/2025
Notice
Summary
BOX Exchange is updating its rules to start listing and trading options on the iShares Ethereum Trust, a popular crypto-related fund. This change affects traders and investors who want more ways to trade Ethereum through options, with the new rules effective immediately. It’s a fresh move to bring crypto closer to traditional markets, opening new opportunities without delay.
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
6 provisions identified: 5 benefits, 1 costs, 0 mixed.
BOX Will List Ethereum ETF Options
You can trade options on the iShares Ethereum Trust on BOX Exchange. BOX filed the rule change on April 10, 2025 and the change is effective immediately, so options on this spot ether-backed ETF may be listed and traded like other ETF options.
25,000-Contract Position Limit Set
Options on the iShares Ethereum Trust will have a same-side position limit of 25,000 contracts and equivalent exercise limits. The Exchange proposes this 25,000 limit in IM-3120-2 and notes the exercise limits under Rule 3140 will match it.
Trust Excluded from FLEX Equity Options
The Exchange will exclude the iShares Ethereum Trust from being authorized for trading as FLEX Equity Options under Rule 5055. BOX may file a separate proposal later if it decides to permit FLEX trading for the Trust.
Strike Intervals and Minimum Increments
Strike intervals for Trust options will follow IM-5050-1(b): strikes will be $1 or greater when the strike price is $200 or less and $5 or greater when the strike price is over $200. Minimum quoting increments follow Rule 7050: if an option price is under $3 the minimum increment is $0.05, and if $3 or higher the minimum increment is $0.10.
Settlement Style and Available Expirations
Options on the Trust will be physically settled contracts with American-style exercise. BOX may list weekly, monthly, quarterly series and long-term equity option series (LEAPS) that expire from 12 to 180 months.
Surveillance, Market Data, and Transparency Measures
BOX will apply its existing surveillance programs, use Intermarket Surveillance Group (ISG) information-sharing and FINRA arrangements, and make quotation and last-sale data for Trust shares available via CTA and options data via OPRA. BOX says it and OPRA have the capacity to handle the added data traffic.
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