Federal Register #SRCBOE2026 020

SEC Approves Cboe Exchange Rule Change for Listing Options on Multi-Crypto Asset Trusts

This notice announces the SEC's approval of a rule change proposed by Cboe Exchange, Inc. regarding the listing and trading of options on Commodity-Based Trusts holding multiple crypto assets. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Cboe Exchange, Inc. (exchange operator) - SEC (regulatory authority) - Products/Services Requested: - No products or services are being procured; this is a regulatory rule change, not a procurement action - Rule Change Details: - Amends Cboe Exchange Rules 4.3 and 4.4 - Establishes listing and withdrawal standards for options on Commodity-Based Trusts with multiple crypto assets - Each crypto asset in the trust must: - Have an average daily market value of at least $700 million over the past 12 months - Underlie a derivatives contract traded on a market with a comprehensive surveillance sharing agreement with Cboe - Cboe can list these options without further SEC approval if criteria are met - Sets continued listing standards and allows for suspension if criteria are not maintained - Unique/Notable Requirements: - Focus on multi-crypto asset trusts - Emphasis on market value thresholds and surveillance agreements - Regulatory action, not a procurement opportunity

Description

The Securities and Exchange Commission (SEC) approved a proposed rule change by Cboe Exchange, Inc. to amend Exchange Rules 4.3 and 4.4. The amendment establishes listing criteria and withdrawal standards for options on Commodity-Based Trusts that hold multiple crypto assets. The rule change allows the Exchange to list and trade options on these trusts without additional SEC approval, provided each crypto asset meets specific market value and surveillance agreement criteria. This facilitates investor access to options on diversified crypto asset trusts while maintaining regulatory safeguards.

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