24X Exchange files amended application that could bring 24/7 trading to crypto ETFs
It would be the first time crypto ETF shares that could be traded after-hours in the US.
24X National Exchange filed an amended application to United States regulators to launch a securities exchange that could potentially bring 24/7 trading to cryptocurrency exchange-traded funds (ETFs), according to the Aug. 27 filing and related exhibits.
According to the filing, 24X “proposes to significantly expand trading outside of regular trading hours” for US-listed securities “by operating a national securities exchange 23 hours a day, seven days a week, 365 days a year, including holidays, subject to certain trading pauses.”
Pending the success of its application to register as a national securities exchange, “[a]ny security in the Nasdaq-100 Index, S&P 500 Index, Russell 2000 Index, and the top 50 exchange-traded funds by average daily volume shall be eligible to become designated for trading on the Exchange during the 24X Market Session,” according to 24X.
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Author: Alex O’Donnell
