SEC Clears NYSE American to List Options on Multi-Crypto Commodity Trusts

The U.S. Securities and Exchange Commission has approved a New York Stock Exchange rule change allowing NYSE American to list options on commodity trusts that hold multiple cryptocurrencies, ME News reported on April 2 (UTC+8). Until now, options were limited to single-cryptocurrency commodity trusts. Under the updated framework, each cryptocurrency in a multi-asset trust must independently meet liquidity requirements, including an average daily market value of at least $700 million over the past 12 months. Derivatives tied to each crypto must trade on venues with comprehensive surveillance-sharing agreements. The trust's shares must also meet the exchange's initial and ongoing listing standards for ETF options and qualify as NMS stocks. The SEC said the change should broaden investor access and hedging tools for crypto exposure and improve market efficiency by removing the need for separate SEC approvals for each new trust. (Source: ChainCatcher)