SEC Seeks Public Input on NYSE Arca Rule Change Proposal

The U.S. Securities and Exchange Commission (SEC) has issued a notice inviting public comments on a proposed rule change by NYSE Arca. According to ChainCatcher, the proposal requires that at least 85% of the assets in commodity trust shares meet existing eligibility standards, with derivatives calculated by nominal total value. Eligible assets include Bitcoin, Ethereum, Solana, and XRP, which have been traded on designated markets for futures for at least six months and have significant exposure through exchange-traded products. NFTs and collectibles are explicitly excluded. The proposal indicates that if a trust holds Bitcoin and Bitcoin ETF over-the-counter call options, only about 71% of the exposure would meet the requirements, thus failing to pass. The aim is to allow more products to be listed while keeping most exposure within a range of monitorable assets. The SEC can approve, deny, or initiate related procedures during the review period.