17 Mar 2025
📈SEC Extends Review Period for Cboe BZX’s Canary XRP Trust Proposal
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the Canary XRP Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
Summary
The SEC has designated an extended review period for Cboe BZX's proposed rule change to list and trade shares of the Canary XRP Trust. This action is part of the Commission’s regulatory process to ensure proper evaluation of the implications surrounding the potential inclusion of cryptocurrency-based trust shares in trading.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The regulatory notice pertains to a proposed rule change by the Cboe BZX Exchange to list shares of the Canary XRP Trust, which may impact the trading landscape and regulation of cryptocurrency investments. Business owners and executives need to monitor the Commission's decision outcome as it could influence market operations and compliance requirements.