# 2025-04351: SEC Stalls NYSE Arca's Bitcoin Mini Options Changes

2025-04351, 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 Mini Trust and the Bitwise Bitcoin ETF and To Permit Flexible Exchange Options on the Grayscale Bitcoin Mini Trust and the Bitwise Bitcoin ETF, is a Federal Register notice from Securities and Exchange Commission published 2025-03-18, effective 2025-05-25 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-04351
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-04351
- 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 Mini Trust and the Bitwise Bitcoin ETF and To Permit Flexible Exchange Options on the Grayscale Bitcoin Mini Trust and the Bitwise Bitcoin ETF
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 12614
- Published: 2025-03-18
- Effective: 2025-05-25
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

SEC Stalls NYSE Arca's Bitcoin Mini Options Changes

## Summary

The SEC is taking extra time to review NYSE Arca’s plan to change rules for trading options on the Grayscale Bitcoin Mini Trust and Bitwise Bitcoin ETF. These changes would adjust how many options traders can hold and allow more flexible trading on these Bitcoin-related funds. This affects investors and traders dealing with these options and could impact how they manage their trades and risks soon.

## Effects PRIA read

- Proposed Changes to Bitcoin ETF Options Rules: mixed, medium. NYSE Arca filed a proposed rule change (filed February 3, 2025; Amendment No. 1 filed February 14, 2025) to amend position and exercise limits for options on the Grayscale Bitcoin Mini Trust and the Bitwise Bitcoin ETF and to permit Flexible Exchange Options on those products. The SEC has designate…

## Related documents

- [2026-20466](https://policyrisk.com/federal-register/2026-20466): Adviser and Regulated Fund Custody Rules; Crypto Custody Rules, 2026-10-06
- [2026-19260](https://policyrisk.com/federal-register/2026-19260): Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4, 2026-09-21
- [2026-18424](https://policyrisk.com/federal-register/2026-18424): Political Contributions by Certain Investment Advisers, 2026-09-10
- [2026-18190](https://policyrisk.com/federal-register/2026-18190): Transfer Agent Rules, 2026-09-04
- [2026-17183](https://policyrisk.com/federal-register/2026-17183): Regulation Crypto Assets, 2026-08-21
- [2026-12163](https://policyrisk.com/federal-register/2026-12163): The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS, 2026-06-17

## Sources
- [2025-04351 on federalregister.gov](https://www.federalregister.gov/documents/2025/03/18/2025-04351/self-regulatory-organizations-nyse-arca-inc-notice-of-designation-of-a-longer-period-for-commission)
- [2025-04351 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-03-18/pdf/2025-04351.pdf)

## Related
- [Previous: 2025-04350, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Long…](https://policyrisk.com/federal-register/2025-04350)
- [Next: 2025-04352, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Long…](https://policyrisk.com/federal-register/2025-04352)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-04351 (as of 2026-06-08).