NYSE Arca and NYSE American have filed to eliminate the 25,000-contract position and exercise limits on options tied to spot bitcoin and ether ETFs, including products from BlackRock, Fidelity, and Grayscale. The SEC waived the standard waiting period, making the changes effective immediately. This removal, following similar actions by other major U.S. options exchanges, also allows these ETFs to trade as customizable FLEX options. The shift facilitates more efficient hedging and structured products for institutional investors, aligning crypto ETF options with the framework used for other major commodity ETFs.