SEC clears NYSE Arca to list multi-crypto trust options
The SEC approved NYSE Arca's rule change to list options on trusts holding multiple cryptocurrencies, expanding investment opportunities.Summary
The US Securities and Exchange Commission (SEC) has approved a rule change that allows NYSE Arca to list options on commodity-based trusts that hold multiple crypto assets. This approval expands existing rules that previously only covered trusts holding a single cryptocurrency. To qualify, each crypto asset within the trust must maintain a minimum average daily market value of $700 million over the past 12 months and be connected to derivatives trading on a market with a surveillance-sharing agreement with NYSE Arca. These options will adhere to the same listing and trading standards as traditional ETF options, including regulations on trading volume, position limits, and margin requirements. NYSE Arca retains the authority to halt trading if any underlying crypto asset falls below the specified criteria. This development provides investors with additional avenues to gain exposure to, or hedge against, baskets of cryptocurrencies, all while incorporating safeguards against market manipulation.
(Source：Crypto Briefing)