Part of the approved rule changes allows institutions to trade the crypto ETFs as FLEX options, which offer customizable terms like non-standard strike prices and expiration dates.
Two New York Stock Exchange-affiliated exchanges have removed the 25,000 contract position limit on options tied to 11 crypto exchange-traded funds.
NYSE Arca and NYSE American each filed three rule changes in the Federal Register on March 10 to remove contract position limits and price discovery restrictions for options linked to Bitcoin (BTC) and Ether (ETH) ETFs listed on their exchanges.
These were acknowledged by the Securities and Exchange Commission on Sunday, with the SEC waiving the standard 30-day waiting period for both sets of proposed rule changes, meaning they are now in effect.
