The U.S. SEC approves NYSE American to list “multi-asset cryptocurrency ETFs” options, and Wall Street’s hedging tool gets an upgrade again

The U.S. Securities and Exchange Commission (SEC) officially issued File No. 34-105133 on April 1, 2026 (Document No. SR-NYSEAMER-2026-11), approving the New York Stock Exchange American (NYSE American) rule change filing. This ruling breaks the previous limitation that only allowed options on trusts holding a “single crypto asset” to be listed, officially clearing the way for the listing and trading of ETF options for commodity trusts holding “multiple crypto assets (Multiple Crypto Assets).”
(Background: NYSE teamed up with Securitize to launch an RWA tokenized securities platform: 24/7 trading, instant settlement, stablecoin inflows and outflows)
(Additional context: SEC Chair Atkins stated on the “crypto interpretive guidance” that “this is only the beginning; the stablecoin bill with 99% of the details in place is the key”)

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• Break the single-coin restriction and clear the way for “basket-style” crypto options
• Stringent dual listing requirements: liquidity and shared regulation
• Macroeconomic impact: paving the derivatives track for diversified-asset ETFs

The U.S. crypto derivatives market is now approaching a brand-new expansion milestone. According to the SEC’s latest official approval document released on April 1, 2026 (Release No. 34-105133), the regulator has officially approved the rule modification proposal submitted by NYSE American LLC. This means Wall Street will have access to richer crypto-asset hedging and investment tools.

Break the single-coin restriction and clear the way for “basket-style” crypto options

In the past, under Exchange Rule 915, the SEC only allowed options to be listed for commodity trusts that hold a “single crypto asset” (for example, spot Bitcoin ETF options or spot Ethereum ETF options). However, as crypto asset investment products become increasingly diversified, demand for diversified index-style products has grown rapidly.

The SR-NYSEAMER-2026-11 amendment just approved formally authorizes NYSE American to provide options trading services for trust funds holding “multiple crypto assets (Multiple crypto assets).” This change removes compliance barriers for a future derivatives market that includes BTC and ETH dual-coin combinations, and even broader “basket-style crypto asset index ETFs.”

Stringent dual listing requirements: liquidity and shared regulation

Although the SEC has opened the door, to guard against market manipulation and risks of extreme volatility, the document clearly specifies the stringent preconditions that these multi-coin ETF options must meet. For each crypto asset included in the trust, each one must independently meet the following standards:

2. High liquidity requirement: The crypto asset’s average daily market value in global markets must be at least $700 million over the past 12 months.
3. Robust shared regulation mechanism: The asset must have a corresponding derivative contract (such as futures), and the exchange where that contract is traded must have signed a “Comprehensive Surveillance Sharing Agreement” with NYSE American, or be a member of an inter-market surveillance group (ISG) (for example, currently CME’s Bitcoin and Ethereum futures).

Macroeconomic impact: paving the derivatives track for diversified-asset ETFs

This SEC approval is significant. As Wall Street institutions’ acceptance of crypto assets increases, asset management companies are actively preparing hybrid trust products covering multiple mainstream coin types. And as options—an indispensable financial instrument for large institutions to hedge risk (Hedging) and increase returns (such as covered call strategies)—becomes legalized for listing, it will substantially increase institutions’ willingness to allocate capital to “multiple crypto asset ETFs” and improve capital efficiency.

At present, the rule change has been approved. The market is closely watching whether major asset management giants will accelerate the launch of hybrid crypto ETFs, further integrating crypto market pricing power and liquidity depth into the traditional financial system.