💰Proposed Cboe BZX Rule Change for Bitcoin Fund Trading
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend the Rules Governing the Listing and Trading of Shares of the WisdomTree Bitcoin Fund To Permit In-Kind Creations and Redemptions Under Rule 14.11(e)(4) (Commodity-Based Trust Shares)
Summary
The SEC has initiated proceedings to evaluate a proposed rule change from Cboe BZX Exchange, which seeks to amend the trading rules for the WisdomTree Bitcoin Fund. The amendment would allow in-kind creations and redemptions, raising essential regulatory considerations regarding market integrity and investor protection. Stakeholders are invited to submit comments by June 27, 2025.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change allowing in-kind creations and redemptions for the WisdomTree Bitcoin Fund presents critical regulatory and compliance considerations for businesses and financial executives involved in asset management and cryptocurrency investments. It implies potential market impacts and investor protections that may affect business practices and strategies.