📈Nasdaq Proposes Rule Change for iShares Bitcoin Trust Listing
Self-Regulatory Organizations; Nasdaq Stock Market LLC; 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 iShares Bitcoin Trust To Permit In-Kind Creations and Redemptions Under Nasdaq Rule 5711(d) (Commodity-Based Trust Shares)
Summary
The Securities and Exchange Commission is considering a proposed rule change by Nasdaq to amend the trading and listing rules for the iShares Bitcoin Trust. This change seeks to allow for in-kind transfers of bitcoin, altering the existing cash creation and redemption process. The Commission is soliciting public comments on this proposal and examining its alignment with current regulatory standards.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change by Nasdaq to allow in-kind creations and redemptions for the iShares Bitcoin Trust could significantly impact business operations related to cryptocurrency trading and investments. This change introduces new compliance requirements and may influence market dynamics for businesses involved in digital asset management.