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

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

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