💰SEC Proposes Rule Change for In-Kind ETF Transactions
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend the Franklin Bitcoin ETF, the Franklin Ethereum ETF, and the Franklin Crypto Index ETF, To Allow for In-Kind Creations and Redemptions
Summary
The Securities and Exchange Commission (SEC) has published a notice regarding the proposed rule change by the Cboe BZX Exchange to allow in-kind creations and redemptions for the Franklin Bitcoin ETF, Franklin Ethereum ETF, and the Franklin Crypto Index ETF. This change aims to enhance market efficiency and liquidity for authorized participants, impacting the trading dynamics of these funds.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change allows in-kind creations and redemptions for the Franklin Bitcoin, Ethereum, and Crypto Index ETFs, facilitating greater liquidity and efficiency for authorized participants, which can lead to enhanced market dynamics and investment opportunities. This impacts business owners in the financial sector, particularly those involved in cryptocurrency-related investments.