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    3. Nasdaq Aims to Simplify Launching Options on Crypto ETFs

    Nasdaq Aims to Simplify Launching Options on Crypto ETFs

    By: rootdata|2026/08/15 08:00:00
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    The crypto derivatives market could reach a new regulatory milestone. Nasdaq has submitted a proposal to the Securities and Exchange Commission (SEC) aimed at simplifying the listing of options related to crypto ETFs. The text primarily seeks to establish common criteria for funds exposed to digital commodities. Bitcoin, Ether, Solana, and XRP could fall under this framework if they meet the stipulated conditions. This initiative comes as U.S. regulation continues to evolve.

    In Brief

    • Nasdaq proposes standardized criteria for listing options related to crypto ETFs.
    • The project requires that at least 85% of the net asset value is based on eligible derivative assets.
    • A 15% tolerance would allow for the inclusion of certain assets that do not meet the derivative market criteria.
    • Bitcoin, Ether, Solana, and XRP could be affected if they comply with the established conditions.

    Nasdaq Proposes a Common Framework for Options

    The proposal submitted by Nasdaq to the SEC is numbered SR-ISE-2026-42. It aims to modify the rules applicable to options on certain investment funds linked to digital commodities.

    The text specifies that at least 85% of a fund's net asset value must be based on underlying assets for derivative contracts. These contracts must be traded on markets with comprehensive surveillance and data-sharing agreements. This condition can also be fulfilled through the Intermarket Surveillance Group.

    Additionally, Nasdaq provides a 15% tolerance for certain assets. This portion of the fund could include digital commodities that do not meet the requirements of the derivatives market.

    However, this flexibility does not eliminate the liquidity criteria applicable to each underlying asset. Each relevant digital commodity must have an average daily market value of at least $700 million over twelve months. The framework thus seeks to define a common basis for eligible products.

    Nasdaq Aims to Reduce SEC's Separate Approval Procedures

    The Nasdaq project also modifies the terminology used for digital products. The term "crypto-asset" would be replaced by "digital commodity." This definition aligns with the logic of rule 5711(d), which connects the value of a digital asset to the programmatic functioning of a cryptographic system and the dynamics of supply and demand. The text also sets specific conditions for investment funds that can access this regime.

    Most importantly, Nasdaq seeks to reduce the need for separate SEC approval for each product that meets the established criteria. The goal is to further standardize the option listing process.

    This approach could apply to several digital assets, but only when they meet the stipulated requirements. The framework also maintains the possibility of including up to 15% of assets that do not meet the conditions of the derivatives market.

    -- Price

    --

    An Uncertain Regulatory Context for ETFs

    This initiative arrives as the U.S. framework remains under construction. The CLARITY Act is still stalled in the Senate, while the SEC is considering a regulatory program dedicated to cryptocurrencies. This situation keeps market players in a waiting period.

    It also emphasizes the importance of precise rules defining the products, the assets involved, and the conditions for accessing the derivatives markets. The project seeks to reduce uncertainty. According to the provided information, this program could define specific rules for certain cryptocurrency investment contracts.

    Institutional interest in Bitcoin is also reflected in the mentioned data. Robert Mitchnick from BlackRock believes that Bitcoin's decoupling from stocks is a positive signal.

    He also views its resilience during the July pullback, caused by artificial intelligence, as a favorable element for its role as a diversification and potential hedge. ETF flows also illustrate this dynamic: within 24 hours, BlackRock's Bitcoin ETF received sufficient purchases to offset the cumulative sales from several other large funds.

    The project will now need to follow its regulatory process with the SEC. Its evolution will determine whether the proposed criteria become a new benchmark for options related to crypto ETFs. In the short term, the challenge lies in the framework's ability to harmonize listing conditions while maintaining the required liquidity and surveillance standards.

    This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.

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    Contents

    In Brief
    Nasdaq Proposes a Common Framework for Options
    Nasdaq Aims to Reduce SEC's Separate Approval Procedures
    BASED
    An Uncertain Regulatory Context for ETFs

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