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

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ME News update: On April 2 (UTC+8), the U.S. Securities and Exchange Commission (SEC) announced approval of the New York Stock Exchange (NYSE) American listing rules change application for options on additional cryptocurrency commodity trusts. Previously, options were only permitted on single crypto-asset commodity trusts; now they have been expanded to support options on commodity trusts holding multiple crypto assets. The listing prerequisite is that each cryptocurrency asset held by the trust must individually meet the high-liquidity standards—namely, the average daily market value over the past 12 months must be at least $700 million, and that cryptocurrency asset’s derivative contracts must be subject to a comprehensive surveillance-sharing agreement with the trading platform. Trust shares must meet the trading platform’s initial and ongoing listing standards for ETF options and must be NMS stocks. After reviewing the rule change, the SEC concluded that it would give investors more exposure to crypto-asset investments and hedging tools, without requiring additional SEC approvals each time, thereby improving market efficiency. . (Source: ChainCatcher)

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