More Options Trading Proposed for Ethereum ETFs on EDGX
Published Date: 2/26/2025
Notice
Summary
Cboe EDGX Exchange is getting ready to let traders buy and sell options on three new Ethereum-related ETFs: the Grayscale Ethereum Trust ETF, the Grayscale Ethereum Mini Trust ETF, and the Bitwise Ethereum ETF. This change opens up fresh ways for investors to bet on or protect their crypto investments starting soon, with no direct cost changes announced yet. If you’re into trading or crypto, keep an eye out for when these options hit the market!
Analyzed Economic Effects
5 provisions identified: 4 benefits, 1 costs, 0 mixed.
Options Allowed on Three Ethereum ETFs
Cboe EDGX proposes to list and trade options on three named Ethereum exchange-traded funds: the Grayscale Ethereum Trust ETF, the Grayscale Ethereum Mini Trust ETF, and the Bitwise Ethereum ETF. The filing was submitted February 5, 2025 and amended February 6, 2025, and the SEC published notice on February 20, 2025.
25,000-Contract Position Limit Set
The Exchange proposes position and exercise limits of 25,000 same-side option contracts for options on each Ethereum Fund (which equates to up to 2,500,000 underlying shares if all contracts were exercised).
Available Expirations and LEAPS Up To 39 Months
The Exchange will open at least one expiration month at commencement of trading and may list weekly, monthly, quarterly series and long-term equity option series (LEAPS) that expire from 12 to 39 months from listing for options on the Ethereum Funds.
Options Will Be Physically Settled
Options on each Ethereum Fund will be physically settled and use American-style exercise, meaning exercised options result in delivery of the ETF shares and may be exercised any time before expiration. This treatment is stated in the proposal.
Strike Intervals and Minimum Increments
Strike price intervals will be $1 or greater when strikes are $200 or less and $5 or greater when strikes are over $200; the Exchange may also use $1, $0.50, $2.50, and $5 strike programs. Minimum quoting/trade increments will be $0.05 for series priced below $3.00 and $0.10 for series priced at $3.00 or higher, with penny-interval program exceptions noted in the rules.
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
Related Federal Register Documents
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-03069 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt Fees for Cboe Timestamping Service Reports
Cboe BZX Exchange is adding new fees for its Timestamping Service reports starting immediately. Traders and firms using these reports will now pay for access, helping the Exchange cover costs and improve services. The change is already in effect, but the SEC is open to feedback for the next 60 days.
Next: 2025-03071 — Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Advance Notice Relating to The Options Clearing Corporation's Proposed Amendments to Certain Key Terms of a Master Repurchase Agreement for a Committed Liquidity Facility With a Bank Counterparty as Part of the Options Clearing Corporation's Overall Liquidity Plan
The Options Clearing Corporation (OCC) wants to update some important terms in its agreement with a bank that helps keep money flowing smoothly during busy times. These changes are part of OCC’s plan to make sure it always has enough cash ready, without changing its main rules. This update affects banks working with OCC and aims to keep the financial system safe and steady, with no immediate cost changes announced.