# 2026-16460: SEC Unlocks Crypto Options Trading: Fed Meets Bitcoin Mania

2026-16460, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing of Proposed Rule Change To Amend the Criteria for Underlying Securities, is a Federal Register notice from Securities and Exchange Commission published 2026-08-13; PRIA reads it as touching household money (as of 2026-08-20).

- Canonical: https://policyrisk.com/federal-register/2026-16460
- As of: 2026-08-20
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-16460
- Title: Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing of Proposed Rule Change To Amend the Criteria for Underlying Securities
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 52387
- Published: 2026-08-13
- Effective: unknown
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-08-20

## In one line

SEC Unlocks Crypto Options Trading: Fed Meets Bitcoin Mania

## Summary

Nasdaq ISE wants to update its rules to allow options trading on Commodity-Based Trusts that hold digital commodities like cryptocurrencies. This change affects investors and traders interested in crypto-related options and aims to expand trading choices. The proposal was filed on July 28, 2026, and is now open for public comments before any final decision.

## Effects PRIA read

- Exchange Listing of Options on Digital-Commodity ETFs: benefit, medium. The Exchange proposes to allow listing and trading of options on Commodity-Based Trust Shares that hold ‘‘digital commodities’’ pursuant to Nasdaq Rule 5711(d), as amended. If the trust meets the initial criteria, the Exchange may list such options immediately on the national exchange without addit…
- Narrower 'Digital Commodity' Definition: mixed, medium. The Exchange will replace the term ‘‘crypto asset’’ with the narrower term ‘‘digital commodity,’’ defined to require (i) that it be a commodity under the Commodity Exchange Act, (ii) that its value be intrinsically linked to the programmatic operation of a functional crypto system and market dynami…
- 85% Surveillance Requirement with 15% Buffer: benefit, low. The Exchange proposes that at least 85% of a trust's net asset value (NAV) must consist of digital commodities that underlie derivatives trading on a market with which the Exchange has a comprehensive surveillance sharing agreement; up to 15% of NAV may consist of digital commodities that do not me…
- $700M Liquidity Threshold for Underlyings: mixed, medium. To qualify as an underlying for options, each digital commodity held by the Commodity-Based Trust must have a total global supply with an average daily market value of at least $700 million over the last 12 months. The rulekeeper says this $700 million threshold ensures sufficient liquidity for cre…

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- [2026-21037](https://policyrisk.com/federal-register/2026-21037): Investment Company Cross Trading, 2026-10-15
- [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

## Sources
- [2026-16460 on federalregister.gov](https://www.federalregister.gov/documents/2026/08/13/2026-16460/self-regulatory-organizations-nasdaq-ise-llc-notice-of-filing-of-proposed-rule-change-to-amend-the)
- [2026-16460 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-08-13/pdf/2026-16460.pdf)

## Related
- [Previous: 2026-16459, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2026-16459)
- [Next: 2026-16461, Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effecti…](https://policyrisk.com/federal-register/2026-16461)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-16460 (as of 2026-08-20).