"The proposed rule change from NYSE Arca introduces an 85% asset threshold that limits exposure to holdings outside existing eligibility standards, marking a significant shift in portfolio requirements for trust listings."
"Under the proposed change, at least 85% of a trust's net asset value would need to be held in assets already allowed by the rule, including qualifying commodities and cash equivalents."
"The remaining 15% of a trust's assets could include other assets that do not independently meet the rule's eligibility criteria, as long as the trust otherwise remains compliant with the regulations."
A recent SEC notice outlines NYSE Arca's proposed rule change that mandates at least 85% of a trust's net asset value be held in qualifying assets. This proposal aims to tighten listing requirements for crypto and commodity investment products. The remaining 15% can consist of non-qualifying assets, provided the trust remains compliant. The rule change also includes counting derivatives by gross notional value, impacting how crypto trusts qualify for listings on the exchange.
Read at news.bitcoin.com
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