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.
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
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
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!
2026-13197 — Deregistration Under Section 8(f) of the Investment Company Act of 1940
Some investment funds, like the Value Line Core Bond Fund, are officially asking the SEC to stop being registered as investment companies because they've finished closing down and paid out their investors. If you want to speak up or ask for a hearing, you have until July 21, 2026. This means less paperwork and oversight for these funds, and no extra costs for investors now that the funds are done.
2026-13114 — Self-Regulatory Organizations; Texas Stock Exchange LLC; Order Declaring Effective a Minor Rule Violation Plan
The Texas Stock Exchange (TXSE) just got the green light to use a Minor Rule Violation Plan that lets them handle small rule breaks with fines up to $2,500 without rushing to report each one immediately. This means TXSE can now report these minor slip-ups to the SEC every three months instead of right away, making things smoother and faster for everyone involved. Traders and firms on TXSE should keep an eye on this new, quicker way of handling small rule issues starting now!
Previous / Next Documents
Previous: 2025-06505 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 402, Criteria for Underlying Securities, To List and Trade Options on the iShares Ethereum Trust
MIAX PEARL is updating its rules to let people trade options on the iShares Ethereum Trust, a popular crypto-related fund. This change means investors can now bet on Ethereum’s price moves through options on this exchange, starting right away. It’s a fresh way to mix crypto excitement with traditional trading, opening new chances for traders and investors.
Next: 2025-06507 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Rules To Allow the Exchange To List Options on the iShares Ethereum Trust
Cboe BZX Exchange just updated its rules to let people trade options on the iShares Ethereum Trust, a popular crypto-related fund. This change means investors can now bet on or protect their Ethereum Trust shares starting right away. If you’re into trading or crypto, this opens up fresh ways to play the market with options tied to Ethereum’s value.