5 Mar 2025
💰SEC Proposal for In-Kind Transactions in WisdomTree Bitcoin Fund
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Permit In-Kind Creations and Redemptions by the WisdomTree Bitcoin Fund
Summary
The SEC has issued a notice regarding a proposed rule change by Cboe BZX Exchange, Inc. to allow in-kind creations and redemptions for the WisdomTree Bitcoin Fund. This regulatory update aims to enhance trading efficiency and market operations for Bitcoin ETP shares, reflecting a shift towards accommodating cryptocurrency assets in established financial frameworks.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change allows for in-kind creations and redemptions of Bitcoin ETP shares, improving operational efficiency for authorized participants. This change can impact trading dynamics and potentially enhance market accessibility for cryptocurrency investments, benefiting businesses involved in digital assets.