The SEC’s overhaul of Rule 4210 eliminates the $25,000 minimum equity requirement for frequent day traders. Ethereum’s price above $1,800 on April 23 is priced at 100% YES, with retail traders now facing fewer barriers to speculative crypto positions.

Market reaction

Ethereum above $1,800 on April 23 is at 100% YES across all sub-markets, though the face value registers $0 with no recent trading activity here. Bitcoin dipping to $60,000 in April trades at 0.9% YES, with $1,254 in USDC volume over the past 24 hours here. Traders are not pricing in a meaningful Bitcoin pullback.

Why it matters

The rule change replaces the old fixed-threshold model with real-time, risk-based margining. This opens frequent…