On September 17th, the SEC approved rule changes by three national securities exchanges to adopt generic listing standards for exchange-traded products that hold spot commodities, such as digital assets. Consequently, the exchanges may list and trade Commodity-Based Trust Shares that satisfy the requirements of the approved generic listing standards without first submitting a proposed rule change to the SEC under Section 19(b) of the Exchange Act.
The approval of these generic listing standards will:
- ensure that capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets
- broaden investor options and bolster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets
- provide much needed regulatory clarity and certainty to the investment community through a rational, rules-based approach to bring products to market while ensuring investor protections
Additionally, the SEC approved the following:
- listing and trading of the Grayscale Digital Large Cap Fund, which holds spot digital assets based on the CoinDesk 5 Index
- listing and trading of p.m.-settled options on the Cboe Bitcoin U.S. ETF Index and the Mini-Cboe Bitcoin U.S. ETF Index with third Friday expirations, nonstandard expirations, and quarterly index expirations
The following related SEC Orders may be viewed on the website:
Source:
SEC Adopts Generic Listing Standards for Commodity-Based Trust Shares (sec.gov)
