The post NYSE Arca Proposes Rule 8.800-E to Open Digital Asset Doors appeared on BitcoinEthereumNews.com.

Key Points: NYSE Arca proposes Rule 8.800-E for listing commodities and digital asset-based investment products. New rule aims to expand investment options and meet demand for diversified asset products. NYSE Arca proposes Rule 8.800-E to allow listing of commodity and digital asset-based securities. The rule aims to expand investment options, meet investor demand, and provide a regulated environment for trading these innovative products. On October 29, 2024, NYSE Arca submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to adopt a new rule, referred to as Rule 8.800-E, which would allow for the listing and trading of innovative investment products based on commodities and digital assets. Alongside this rule, NYSE Arca has also specifically proposed listing and trading shares of the Grayscale Digital Large Cap Fund under these new provisions. Purpose of NYSE Arca’s Proposed Rule 8.800-E The primary purpose of Rule 8.800-E is to expand the investment options available on NYSE Arca by providing a framework for listing securities based on both physical commodities and digital assets. According to the proposal, this would enable the exchange to “consider for trading, whether by listing or pursuant to unlisted trading privileges, Commodity- and/or Digital Asset-Based Investment Interests that meet the criteria of this rule”​. These investment interests refer to securities issued by a trust, limited liability company, or similar entity holding specific commodities, digital assets, derivative securities, or cash. The rule aims to meet investor demand for a diversified product that combines the growth potential of digital assets, like cryptocurrencies, with traditional commodity investments. By broadening the types of securities listed, NYSE Arca would facilitate new forms of exchange-traded products (ETPs) that offer access to these innovative asset classes in a secure and regulated environment. Read more: NYSE Arca Bitcoin ETF Delayed Again By SEC To November 21 What…

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Filed under: News - @ October 30, 2024 12:26 pm