Crypto: SEC approves NYSE Arca rule change to list options on multi-crypto trust products

The U.S. Securities and Exchange Commission has approved a NYSE Arca rule change that lets the exchange list and trade options on commodity-based trusts holding multiple crypto assets, without needing additional case-by-case approvals. Until now, options trading was largely confined to single-asset trust products such as Bitcoin or Ethereum ETFs. Under the amended Rule 5.3-O, NYSE Arca can list options immediately once an eligible multi-crypto trust meets initial listing standards. The rule requires that each underlying crypto asset have adequate global supply and serve as the basis for a derivatives contract on a market subject to surveillance. The decision paves the way for options tied to diversified crypto index-style products, including the Grayscale Digital Large Cap Fund. The approval also follows the industry-wide removal earlier in March of the 25,000-contract position limit on crypto ETF options, enabling institutional-scale trading across major U.S. options exchanges.