# 2025-04350: NYSE Arca's Bitcoin Trust Options Rules Face SEC Delay

2025-04350, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules Regarding the Position and Exercise Limits for Options on the Grayscale Bitcoin Trust and To Permit Flexible Exchange Options on the Grayscale Bitcoin Trust, is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-05-19 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04350
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04350
- Title: Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules Regarding the Position and Exercise Limits for Options on the Grayscale Bitcoin Trust and To Permit Flexible Exchange Options on the Grayscale Bitcoin Trust
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12630
- Published: 2025-03-18
- Effective: 2025-05-19
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

NYSE Arca's Bitcoin Trust Options Rules Face SEC Delay

## Summary

NYSE Arca wants to change the rules for trading options on the Grayscale Bitcoin Trust, including allowing more flexible options and adjusting position limits. This affects traders and investors dealing with Bitcoin Trust options and could impact how they manage their trades. The SEC is taking extra time and will decide by May 19, 2025, so everyone’s watching closely!

## Effects PRIA read

- Change to GBTC Options Position Limits: mixed, low. NYSE Arca filed a proposed rule change on January 29, 2025 (amended February 7, 2025 and published February 18, 2025) to amend the position and exercise limits for options on the Grayscale Bitcoin Trust. The Securities and Exchange Commission has extended its review and will act by May 19, 2025. If…
- Permit Flexible Exchange Options on GBTC: benefit, low. NYSE Arca proposed (filed January 29, 2025; amended February 7, 2025; published February 18, 2025) to permit Flexible Exchange Options on the Grayscale Bitcoin Trust. The SEC is extending its review and will decide by May 19, 2025. If you trade GBTC options, permitting Flexible Exchange Options wou…

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## Sources
- [2025-04350 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04350/self-regulatory-organizations-nyse-arca-inc-notice-of-designation-of-a-longer-period-for-commission)
- [2025-04350 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04350.pdf)

## Related
- [Previous: 2025-04349, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Designation of a Long…](https://policyrisk.com/federal-register/2025-04349)
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Source: PRIA, https://policyrisk.com/federal-register/2025-04350 (as of 2026-06-08).