🪙SEC Proceedings on Bitwise XRP ETF Approval Impacting Investments
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Bitwise XRP ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
Summary
The SEC has initiated proceedings to determine the approval of a proposed rule change for trading shares of the Bitwise XRP ETF on the Cboe BZX Exchange. This analysis follows a request for public comments on the proposal, which aims to track the performance of XRP through the Trust. The discussion focuses on legal and policy issues pertaining to the proposal.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document discusses a proposed rule change regarding the listing and trading of Shares of the Bitwise XRP ETF. This could have significant financial implications for business owners and executives involved in securities and investment, as well as those in the cryptocurrency space. The approval or disapproval of this ETF could influence market dynamics and investor behavior.