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

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ME News announcement, 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 trusts on the NYSE American board. Previously, options were only allowed for a single crypto-asset commodity trust. Now, they have been expanded to support options for commodity trusts holding multiple crypto assets. The listing prerequisite is that each cryptocurrency asset held by the trust must individually meet the high-liquidity standards—namely, an average daily market value of at least $700 million over the past 12 months, and the derivative contracts for that cryptocurrency asset must have a fully monitored surveillance-sharing agreement with the trading venue. Trust shares must meet the trading venue’s initial and continued listing standards for ETF options and must be NMS stocks. After reviewing the rule change, the SEC believes that it will allow investors to gain more exposure to crypto assets and more hedging tools, without needing to apply for SEC approval each time, thereby improving market efficiency. . (Source: ChainCatcher)

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