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 an application to amend the rules for options on Multi Cryptocurrency Commodity Trusts listed on the NYSE American. Previously, options were only allowed for commodity trusts holding a single cryptocurrency asset; now they have been expanded to support options on commodity trusts that hold multiple cryptocurrency assets. The listing prerequisite is: each cryptocurrency asset held by the trust must individually meet the high-liquidity standard—namely, the average daily market value over the past 12 months must be at least $700 million, and the derivative contracts for that cryptocurrency asset must have a comprehensive surveillance-sharing agreement 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 more exposure to cryptocurrency investments and hedging tools, without needing to apply for additional SEC approval each time, thereby improving market efficiency. . (Source: ChainCatcher)

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