18 Apr 2025
💰Cboe BZX's Proposed Rule Change for VanEck Bitcoin and Ethereum Trusts
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend the Rules Governing the Listing and Trading of Shares of the VanEck Bitcoin Trust and the VanEck Ethereum Trust To Permit In-Kind Creations and Redemptions
Summary
The SEC has announced an extension for its review of a proposed rule change by Cboe BZX Exchange to amend trading rules for the VanEck Bitcoin Trust and VanEck Ethereum Trust. This amendment aims to permit in-kind creations and redemptions, allowing for flexibility in trading these cryptocurrency-related securities. The extended review period will allow the SEC to thoroughly consider the implications of the proposed changes.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change to allow in-kind creations and redemptions for the VanEck Bitcoin and Ethereum Trusts directly impacts business owners and executives in the financial sector by affecting trading liquidity and investment strategies in cryptocurrency-backed securities.