MIAX PEARL Listing Criteria for Options on Multi-Crypto Commodity-Based Trusts
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The rule proposal allows MIAX PEARL to list and trade options on Commodity-Based Trusts holding multiple crypto assets by establishing specific criteria these trusts must meet for listing and withdrawal. The rule aligns with similar standards from other exchanges, affecting investment and trading entities looking to engage in multiple crypto assets through ETF options trading.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Established listing criteria for Commodity-Based Trusts holding multiple crypto assets
- Set withdrawal standards related to these options
- Aligned with standards on similar exchanges for consistency
Obligations
What this law requires
Commodity-Based Trusts must maintain a total global supply of each underlying crypto asset with an average daily market value of at least $700 million over the last 12 months.
Commodity-Based Trusts holding multiple crypto assets must ensure that the total global supply of each underlying crypto asset has an average daily market value of at least $700 million over the last 12 months.
Commodity-Based Trusts must maintain an average daily market value of at least $700 million for each underlying crypto asset held within the trust over the last 12 months.
Each crypto asset held by the Commodity-Based Trust must underlie a derivatives contract that trades on a market with which the Exchange has a comprehensive surveillance sharing agreement.
Each underlying crypto asset held by the Commodity-Based Trust must underlie a derivatives contract that trades on a market with which the Exchange has a comprehensive surveillance sharing agreement.