Nasdaq Seeks Standardized Criteria for Crypto-Linked Options
Nasdaq has submitted a proposal to the Securities and Exchange Commission (SEC) to simplify the listing of options linked to crypto ETFs. The proposed framework sets common criteria for funds exposed to digital commodities, aiming to reduce uncertainty in the US regulatory environment.
The new rules would require at least 85% of a fund's net asset value to be based on derivative-eligible assets. A 15% tolerance margin would allow the inclusion of some assets that do not meet derivative market criteria. The proposal also defines specific conditions for investment funds that can access this regime.
The framework maintains the possibility to include up to 15% of assets not meeting derivative market conditions, while keeping the liquidity criteria applicable to each underlying asset in place. Each relevant digital commodity must display an average daily global market value of at least $700 million over twelve months.