Nasdaq (Nasdaq: NDAQ) has announced updated listing requirements for underlying crypto assets, expanding the eligible currencies for Exchange Traded Products (ETPs) with crypto assets as underlying assets.
“We continue to see a growing demand to invest in ETPs with crypto assets as underlying assets and in our efforts to modernize our markets we are happy to now be able to enable issuers to issue more currencies through the new guidelines,” says Helena Wedin, Head of ETF and ETP, Nasdaq European Markets.
ETPs with crypto assets as underlying assets must comply with the relevant Nasdaq Main Market Exchange Trades Notes Rulebook as well as the Nasdaq Nordic Crypto Guidelines. The guidelines complement the rulebooks and outline specific requirements that must be met to admit an ETP with crypto assets as underlying assets. One of the requirements has been that the underlying crypto asset must be included in the Nasdaq Crypto Index. This has now been revised to also include requirements on, among other, pricing, liquidity and trading availability of the underlying crypto asset, – opening for more crypto assets to be included.
The revised guidelines are based on the existing requirements of the Nasdaq Crypto Index methodology and market practice.