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

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ME News message, on April 2 (UTC+8), the U.S. Securities and Exchange Commission (SEC) announced approval of the rule-change application for multi-cryptocurrency commodity trust options listed on NYSE American. Previously, options were permitted to be listed only for commodity trusts holding a single crypto asset; now, they have been expanded to support options on commodity trusts holding multiple crypto assets. The pre-listing requirements are: each crypto asset held by the trust must separately meet the high-liquidity standards—an average daily market value of at least $700 million over the past 12 months—and the crypto asset’s derivative contracts must have a comprehensive surveillance-sharing agreement with the trading platform. Trust shares must meet the trading platform’s initial and continuing listing standards for ETF options and must be NMS stocks. After reviewing the rule change, the SEC believes it will allow investors to gain greater exposure to crypto assets and hedging tools, without needing to obtain additional SEC approvals every time, thereby improving market efficiency. . (Source: ChainCatcher)

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