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NYSE Exchanges Complete Removal of Crypto ETF Options Position Caps

NYSE Exchanges Complete Removal of Crypto ETF Options Position Caps

According to the update, NYSE Arca and NYSE American removed the 25,000-contract position and exercise limits for options on 11 spot Bitcoin and Ethereum ETFs and now permit FLEX options trading.

BTC
ETH

Fact Check
The claim is corroborated by multiple financial news outlets (The Block, PANews) reporting on the specific regulatory filings made by NYSE Arca and NYSE American on March 23, 2026. The reports detail the removal of the 25,000-contract limit for 11 specific spot crypto ETFs and the SEC's grant of immediate effectiveness.
    Reference: 12
Summary

NYSE Arca and NYSE American have removed the 25,000-contract position and exercise limits on options tied to 11 spot Bitcoin and Ethereum ETFs, with immediate SEC effectiveness. The update covers products including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, and also permits FLEX options trading for the affected crypto ETF options. Under the revised framework, position limits can rise above 250,000 contracts based on liquidity, further expanding trading flexibility for listed options on spot crypto ETFs. Separately, Nasdaq ISE is seeking approval for a 1 million-contract position limit for IBIT options, with public comments due by April 13.

Terms & Concepts
  • ETF options: Options contracts linked to exchange-traded funds, allowing traders to gain or hedge exposure through standardized derivatives.
  • FLEX options: Flexible exchange-listed options that allow customized contract terms such as exercise style, strike price, or expiration date within exchange rules.
  • Position limit: A cap on the number of contracts a market participant can control in a specific derivatives product.