Federal Register #SR-BOX-2026-06

SEC Notice: Proposed Rule Change for Crypto Asset ETF Options by BOX Exchange LLC

This notice announces a proposed rule change by BOX Exchange LLC, published by the Securities and Exchange Commission (SEC), regarding the regulatory treatment of options on certain cryptocurrency-related Exchange-Traded Funds (ETFs) and trusts. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors Mentioned: - iShares (BlackRock) - Grayscale Investments - Bitwise Asset Management - Fidelity Investments - ARK21Shares - Products/Services Affected: - Options on the following crypto asset ETFs and trusts: - iShares Bitcoin Trust ETF - Grayscale Bitcoin Trust - Grayscale Bitcoin Mini Trust - Bitwise Bitcoin ETF - Fidelity Wise Origin Bitcoin Fund - ARK21Shares Bitcoin ETF - iShares Ethereum Trust ETF - Fidelity Ethereum Fund - Bitwise Ethereum ETF - Grayscale Ethereum Trust - Grayscale Ethereum Mini Trust - Notable Requirements: - Proposal removes specific position and exercise limit restrictions for these crypto asset options - Seeks to allow these options to be traded as FLEX Equity Options, aligning with other options under Rule 5020(h) - Regulatory notice only; no procurement of products or services requested - Public comment is solicited on the proposed rule change

Description

BOX Exchange LLC has filed a proposed rule change with the Securities and Exchange Commission to amend BOX Rules 5055 and 3120. The amendments relate to FLEX Equity Options and Position Limits for options on certain Exchange-Traded Fund Shares linked to various cryptocurrency assets, including Bitcoin and Ethereum trusts and ETFs. The proposal seeks to remove certain position and exercise limits and restrictions on FLEX Equity Options trading for these crypto asset-related options, aligning their treatment with other options listed pursuant to Rule 5020(h). The filing aims to promote just and equitable principles of trade and protect investors by updating position limits and trading rules for these crypto asset options.

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