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NYSE lifts crypto ETF options limits on 11 funds

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Source: SEC

Two NYSE-linked exchanges have put new crypto ETF options rules into effect after filings cleared the SEC process. 

Summary

  • NYSE Arca and NYSE American removed position limits on options tied to 11 crypto ETFs.
  • The SEC waived the usual waiting period, allowing the new crypto options rules to take effect immediately.
  • The rule change gives institutions more flexibility and allows crypto ETF options to trade as FLEX contracts.

NYSE Arca and NYSE American removed the 25,000-contract position and exercise limit for options tied to 11 spot Bitcoin and Ether exchange-traded funds, giving those products broader trading terms.

NYSE Arca filed its proposed rule change on March 10, 2026, to revise rules for options on certain crypto-linked ETFs. The filing covered products that had been trading under a 25,000-contract cap since their launch phases.

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NYSE American filed a similar proposal on the same date. Its filing also removed the fixed 25,000-contract limit and updated the exchange’s rules so those options can follow the broader position-limit structure already used for other eligible products.

SEC waiver made the changes effective at once

Both filings became effective under Rule 19b-4(f)(6). In each case, the SEC said the standard 30-day operative delay could be waived because the changes aligned crypto ETF options rules with those used by other exchanges and did not create new regulatory issues.

The Federal Register notices state that the Commission designated both proposals to be operative upon filing. In the notices, the SEC wrote that waiving the delay was consistent with investor protection and the public interest, making the new rules active without waiting another month.

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Source: SEC
Source: SEC

Furthermore, the rule changes affect 11 crypto ETF options. The list includes BlackRock’s iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, Grayscale Bitcoin Trust, Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, Grayscale Ethereum Trust ETF, Grayscale Ethereum Mini Trust ETF, Bitwise Ethereum ETF, iShares Ethereum Trust ETF, and Fidelity Ethereum Fund.

Earlier filings had already removed some limits for a smaller group of Bitcoin ETF options, including GBTC, the Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, and IBIT. The new March 2026 changes extend similar treatment across the full set of listed crypto ETF options covered by these exchange rules.

FLEX options and larger positions now get more room

The updates also allow these crypto ETF options to trade as FLEX options under the revised rules. FLEX contracts let market participants customize terms such as strike prices, expiration dates, and exercise styles instead of using only standard listed terms.

NYSE American’s filing says the exchange wants these crypto asset options treated like other options for position, exercise, and FLEX trading purposes. A separate Nasdaq ISE proposal still seeks to raise the position limit for IBIT options to 1 million contracts, and that proposal remains under SEC review.

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Crypto World

Binance Coin (BNB) Rallies From Key Support Level as Derivative Markets Show Strength

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BNB PRICE

Key Highlights

  • Binance Coin recovered from a weekend low of $627 to reach approximately $648, driven by renewed positive market momentum.
  • Futures open interest for BNB jumped 6.5% to reach $923 million, while Binance’s long/short ratio exceeded 2.21.
  • Technical analysis shows BNB maintaining position above a critical ascending trendline within a bullish parallel channel pattern.
  • A bullish crossover has formed as the 20-day SMA moved above the 50-day SMA, while BNB remains 53% below its peak price.
  • Market analysts project price targets spanning from $2,000 to $5,000, supported by historical cycle analysis and fundamental on-chain metrics.

Binance Coin experienced a notable recovery from its weekend low of $627, pushing back toward the $648 level by Monday, March 25. This upward movement coincided with improved overall crypto market conditions as geopolitical concerns between the U.S. and Iran showed signs of de-escalation.

BNB PRICE
BNB Price

West Texas Intermediate crude oil retreated from $100 to approximately $87 per barrel as international tensions cooled. During this same timeframe, Bitcoin recovered above the $71,000 threshold while Ethereum neared $2,200. Equity markets across Asia, including Japan’s Nikkei 225, Hong Kong’s Hang Seng, and the Shanghai Composite, similarly recorded positive sessions.

According to CoinGlass derivatives data, BNB’s open interest expanded by 6.5% over a 24-hour period, reaching $923 million. On Binance specifically, the long/short ratio climbed above 2.21, indicating that bullish positions significantly outnumber bearish ones among active traders.

Technical Indicators Signal Continued Bullish Momentum

Chart analysis reveals BNB operating within an ascending parallel channel formation on the daily timeframe. The cryptocurrency has successfully maintained its position above the lower boundary of this channel, which has provided reliable dynamic support throughout recent weeks.

Source: TradingView

A significant development has occurred with the 20-day simple moving average (SMA) crossing above the 50-day SMA. This bullish crossover typically indicates strengthening short-term momentum favoring buyers over sellers. Meanwhile, the relative strength index (RSI) is hovering near neutral territory, implying additional upside potential remains available.

The immediate resistance zone to monitor sits at $685, a price level that has previously rejected upward attempts multiple times this month. Successfully breaking through this barrier could pave the way toward the 100-day SMA positioned around $750. Conversely, a decline beneath $600 would challenge the current constructive technical formation.

With BNB currently valued 53% below its historical peak, substantial recovery potential exists assuming market conditions remain favorable.

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Crypto analyst Patel highlighted BNB’s position 53% off its all-time high, referencing historical patterns, ongoing token burn mechanisms, and robust fundamental indicators as justification for ambitious long-term price targets ranging from $2,000 to $5,000 and potentially $10,000, while identifying $300-$420 as an ideal accumulation range.

Token Economics and Network Utility Drive Underlying Value

BNB maintains significant utility across the Binance platform infrastructure. The token serves multiple functions including transaction fee payments, trading fee reductions, and various blockchain-related services, creating consistent organic demand.

Binance implements systematic token burn events that progressively reduce BNB’s circulating supply. These quarterly burns are viewed favorably by market analysts as a deflationary mechanism that complements expanding on-chain usage and network activity.

The previous accumulation range between $300 and $420 has been successfully cleared, and cycle-based projection models now suggest potential price zones between $2,000 and $5,000. These forecasts derive from historical market cycle analysis and structural data patterns.

As of March 26, BNB continues trading near $648 with the critical $600 support level holding firm.

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Fenbushi Co-Founder Offers Bounty to Recover $42M Stolen Crypto

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Fenbushi Co-Founder Offers Bounty to Recover $42M Stolen Crypto

Investigators have frozen about $1.2 million as efforts continue to trace funds lost in a wallet breach linked to a seed phrase compromise.

Bo Shen, the co-founder of venture capital firm Fenbushi Capital, offered a bounty to recover about $42 million in digital assets stolen from his personal wallet in a 2022 hack. 

Shen said Thursday that he was offering a 10%-20% bounty on the recovered amount to any individual or organization that makes a substantial contribution to recovering the assets. Shen said onchain investigators ZachXBT and Taylor “Tayvano” Monahan had already helped freeze about $1.2 million in related assets. He said his team would distribute rewards once the recovery is complete.

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The bounty revives a case Shen first disclosed in November 2022, when he said roughly $42 million in crypto had been drained from his personal wallet. At the time, he said the stolen funds were personal and did not affect Fenbushi-related entities.

Blockchain analytics company SlowMist later said the theft was caused by a compromise of Shen’s mnemonic seed phrase.  Shen said the renewed push comes after investigators developed new leads and a clearer picture of how the stolen assets moved, though any recovery remains uncertain.

Source: Bo Shen

SlowMist said the stolen assets included about $38.2 million in USDC (USDC), 1,607 Ether (ETH), nearly 720,000 USDt (USDT) and 4.13 Bitcoin (BTC). These assets were later moved through exchanges, including ChangeNow and SideShift. 

Shen says improved tracing tools expanded recovery efforts

Shen said onchain tracking and security investigation tools were less developed when the hack occurred in 2022, limiting the ability to trace funds across chains and platforms. 

He said that recent advances in artificial intelligence-driven data analysis and onchain forensics improved the ability of investigators to follow asset flows and identify relevant transaction patterns. 

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Related: Hacked crypto tokens drop 61% on average and rarely recover, Immunefi report says

Shen said the effort could also serve as a test case for how newer tools and coordination methods can support long-running investigations. He said the case highlights how technological progress may expand what is possible in tracing and responding to crypto-related incidents. 

However, any recovery remains uncertain, even with better tracing tools and fresh leads.

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