💹SEC Notice on In-Kind Transactions for VanEck Bitcoin & Ethereum Trusts
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Permit In-Kind Creations and Redemptions by the VanEck Bitcoin Trust and the VanEck Ethereum Trust
Summary
The SEC is soliciting comments on Cboe BZX Exchange's proposed rule change to permit in-kind creations and redemptions for the VanEck Bitcoin and Ethereum Trusts. This rule aims to improve market efficiency, allowing authorized participants to utilize both bitcoin and cash in transactions, which could impact pricing and trading strategies for investors and firms in these markets.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change allows for in-kind creations and redemptions for the VanEck Bitcoin and Ethereum Trusts, potentially impacting liquidity and efficiency in trading these assets. This change enables authorized participants to use either cryptocurrency or cash for transactions, which can affect pricing and market dynamics, enhancing trading strategies for businesses involved in these assets.