17 Mar 2025
💰SEC Designates Longer Review for Fidelity Crypto Fund Rule Change
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 Fidelity Wise Origin Bitcoin Fund and the Fidelity Ethereum Fund To Permit In-Kind Creations and Redemptions
Summary
The SEC has announced an extended review period for the proposed rule change by Cboe BZX Exchange regarding the Fidelity Wise Origin Bitcoin Fund and the Fidelity Ethereum Fund. This change seeks to allow in-kind creations and redemptions, intending to facilitate greater flexibility and efficiency in trading operations. The Commission will make a decision by May 26, 2025.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change allowing in-kind creations and redemptions for Bitcoin and Ethereum funds could impact business owners and executives in the finance and investment sectors by providing new opportunities for fund management and trade operations, aligning with regulatory compliance.