NYSE Arca Approved for Options on Multiple Crypto Trusts
Published Date: 4/6/2026
Notice
Summary
NYSE Arca just got the green light to list options on trusts holding multiple crypto assets, not just one. This means more variety for traders and no extra approval needed from the SEC. The new rule kicks in right away and could open up fresh trading opportunities without extra costs.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Each Crypto Must Meet $700M Liquidity Test
Each crypto asset held by a Commodity-Based Trust must have an average daily market value of at least $700,000,000 over the last 12 months and must underlie a derivatives contract that trades on a market with which the Exchange has a comprehensive surveillance sharing agreement (directly or through ISG). These criteria determine which crypto assets are eligible for trusts whose shares underlie listed options.
Monthly Monitoring Could Suspend Option Openings
The Exchange may suspend opening transactions in options on a Commodity-Based Trust if any crypto asset in the trust (A) no longer has an average daily market value of at least $700,000,000 over the last 12 months as determined on a monthly basis, or (B) no longer underlies a derivatives contract trading on a market with which the Exchange has a comprehensive surveillance sharing agreement (directly or via ISG).
NYSE Arca Can List Multi-Crypto Options
If you trade or invest in options, the SEC approved on April 1, 2026 that NYSE Arca may list and trade options on Commodity-Based Trusts that hold multiple crypto assets. The Exchange can list those options without seeking additional SEC approval once the trust and its assets meet the Exchange's listing criteria.
ETF Option Rules and Surveillance Apply
Options on these Commodity-Based Trust shares will be subject to the Exchange's same initial and continued listing standards for ETF options (including rules on expirations, exercise prices, minimum increments, position and exercise limits per Rules 6.8-O and 6.9-O, margin, and trading halts). The Exchange represents its surveillance procedures and OPRA and Exchange systems have capacity to handle the additional listings and traffic.
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