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

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

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