The US SEC approves the listing of multiple cryptocurrency asset trust options on NYSE American

The U.S. Securities and Exchange Commission (SEC) announced the approval of the rule change application for listing multiple cryptocurrency product trust options on the NYSE American.

Previously, only options for single cryptocurrency product trusts were allowed for listing, and now it has been expanded to support options for product trusts holding multiple cryptocurrencies. The prerequisite for listing is that each cryptocurrency held by the trust must individually meet high liquidity standards—an average daily market value of at least $700 million over the past 12 months, and the derivative contracts of that cryptocurrency must have a comprehensive surveillance sharing agreement with the trading platform.

Trust shares must meet the initial and continued listing standards for ETF options set by the trading platform and belong to NMS stocks. After review, the SEC believes that this rule change will allow investors to gain more exposure to cryptocurrency investments and hedging tools without the need to apply for SEC approval each time, thereby enhancing market efficiency.