📈Cboe BZX Exchange's Proposed Rule Change for XRP Trust Shares
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the 21Shares Core XRP Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
Summary
The Securities and Exchange Commission is considering a proposal from Cboe BZX Exchange to list and trade shares of the 21Shares Core XRP Trust under its Commodity-Based Trust Shares framework. This proposal aims to track the performance of XRP, subject to regulatory scrutiny aimed at preventing fraud and ensuring investor protection. Comments on the proposal are invited for further analysis.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposal for the Cboe BZX Exchange to list and trade $XRP Trust shares raises significant regulatory and compliance issues for financial institutions and investors, particularly relating to anti-fraud measures and investor protection. Business owners involved in trading or managing investments in digital assets must assess their compliance strategies in light of the proposed changes.