# Nasdaq ISE proposes broader options-listing criteria for digital-commodity trusts

> Nasdaq ISE proposed aligning its options-listing criteria with Nasdaq's revised standards for Commodity-Based Trust Shares.

- URL: https://riadefi.com/regulation/2026-08-10-nasdaq-ise-digital-commodity-trust-options-listing/
- Posture: Proposal · not in effect
- Authorities: U.S. Securities and Exchange Commission; Nasdaq ISE, LLC
- Event date: 2026-08-10
- Version: 1, published 2026-08-12 (first published 2026-08-12)
- Advisor-relevant: no

This entry records a proposal. It does not change the law unless it is adopted.

## What changed

Nasdaq ISE proposed aligning its options-listing criteria with Nasdaq's revised standards for Commodity-Based Trust Shares. The proposal would use the narrower term 'digital commodity,' maintain a $700 million average daily market-value test for each commodity, and allow up to 15% of trust NAV to consist of digital commodities that do not underlie derivatives traded on a market covered by the specified surveillance-sharing arrangement. The SEC has not approved the proposal.

## Who it affects

- Broker-dealers and options market participants
- Investment advisers evaluating options on digital-commodity trusts
- Funds and managed accounts using digital-asset ETP options for exposure or hedging
- Sponsors of Commodity-Based Trust Shares

## What is still open

- Whether the SEC will approve, disapprove, or institute proceedings on SR-ISE-2026-42
- Which additional Commodity-Based Trust options would become eligible if the proposal is approved
- How advisers and intermediaries will assess liquidity and surveillance risks attributable to the permitted 15% portfolio component

## What it means for an advisor

- Update product-review templates to distinguish the proposed ISE options criteria from the listing standards for the underlying trust shares
- Assess liquidity, concentration, surveillance, valuation, and options-risk disclosures for any newly eligible products
- Do not represent expanded product eligibility as approved while the SRO filing remains pending

## Sources

1. [Notice of Filing of Proposed Rule Change to Amend the Criteria for Underlying Securities](https://www.sec.gov/files/rules/sro/ise/2026/34-106067.pdf) · U.S. Securities and Exchange Commission and Nasdaq ISE, LLC · 2026-08-10


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.