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

ME News message, on April 2 (UTC+8), the U.S. Securities and Exchange Commission (SEC) announced approval of the New York Stock Exchange’s rule change application to list options for additional cryptocurrency commodity trust products on the U.S. board. Previously, options were only allowed for commodity trusts that hold a single crypto asset; now they have been expanded to support options for commodity trusts holding multiple crypto assets. The listing prerequisite is that each crypto asset held by the trust must independently meet the high-liquidity standards—namely, an average daily market value of at least $700 million over the past 12 months, and the crypto asset’s derivative contracts must have comprehensive surveillance-sharing protocols with the trading platform. The 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 believes it will give investors more exposure to crypto asset investments and hedging tools, without the need to apply for SEC approval each time, thereby improving market efficiency. .(Source: ChainCatcher)