📈SEC Approves Rule Change for Bitcoin and Ethereum ETFs
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change, as Modified by Amendment No. 2, To Amend the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF in Order To Permit In-Kind Creations and Redemptions
Summary
The Securities and Exchange Commission has published a notice regarding a proposed rule change by Cboe BZX Exchange to amend the ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF. This update enables in-kind creations and redemptions, aiming to improve operational efficiency and flexibility for fund management, benefiting authorized participants and investors alike.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change allows ARK 21Shares Bitcoin ETF and 21Shares Core Ethereum ETF to permit in-kind creations and redemptions, thereby enhancing market efficiency and providing greater flexibility for authorized participants. This regulatory change has direct implications for financial operations and strategies for businesses involved in crypto asset trading and investment.