SEC approves listing of multiple cryptocurrency asset commodity trust options on NYSE American

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ME News, April 2 (UTC+8): The U.S. Securities and Exchange Commission (SEC) announced its approval of an application to change the rules for the New York Stock Exchange (NYSE) to list options on multi-cryptocurrency commodity trust products. Previously, options on commodity trusts holding a single crypto asset were the only ones permitted; now, the scope has been expanded to support options on commodity trusts holding multiple crypto assets. The listing prerequisites are that each crypto asset held by the trust must individually meet high-liquidity standards—specifically, an average daily market value of at least $700 million over the past 12 months—and that derivatives contracts for that crypto asset must be traded on a platform that has a comprehensive surveillance-sharing agreement. Trust shares must meet the trading platform’s initial and ongoing listing standards for ETF options and must be classified as NMS stocks. After its review, the SEC believes that this rule change will give investors greater exposure to investments in crypto assets and additional hedging tools, without the need to apply for SEC approval each time, thereby improving market efficiency. (Source: ChainCatcher)

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