Nasdaq BX just lifted the 25,000-contract position/exercise caps for options tied to multiple spot BTC & ETH ETFs (filing dated Jan 7, 2026). The SEC waived the 30-day delay, so it’s effective immediately-while keeping the right to suspend within 60 days. Context: more room for hedging/speculation may deepen liquidity, but headline-driven vol can get louder. Sources: SEC, Nasdaq. #BTC #ETH #ETF #Options