5 May 2025
📈SEC Notice on Cboe BZX Proposed Rule Change for Galaxy ETFs
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 Invesco Galaxy Bitcoin ETF and the Invesco Galaxy Ethereum ETF in Order To Permit In-Kind Creations and Redemptions
Summary
The Securities and Exchange Commission has extended the timeframe to consider a proposed rule change regarding Invesco Galaxy Bitcoin and Ethereum ETFs, which aims to allow in-kind creations and redemptions. This extension provides the Commission with additional time to evaluate the implications of the proposed changes for market structure and trading practices.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The text relates to a proposed rule change by the Cboe BZX Exchange to enable in-kind creations and redemptions for specific ETFs. This could significantly affect how market participants manage these products, influencing trading strategies and regulatory compliance for businesses dealing with cryptocurrencies.