The Securities and Exchange Commission (SEC) has granted Green Impact Exchange, LLC (GIX) approval to register as a national securities exchange. GIX will be responsible for its trading system's regulations and oversight, although some regulatory functions will be outsourced to the Financial Industry Regulatory Authority (FINRA) through a regulatory services agreement. The exchange will operate as an electronic trading platform without a physical trading floor, and its corporate governance and ownership structures align with industry standards to maintain independence and meet SEC requirements. Additionally, GIX plans to utilize technology provided by MEMX Technologies to facilitate trading operations while ensuring compliance with federal securities laws.

Nasdaq PHLX LLC has filed a proposal with the Securities and Exchange Commission to eliminate its Market Data Revenue (MDR) Rebate Program. This program was designed to increase market activity by offering financial incentives for displaying orders on the exchange, but it hasn't been successful in attracting enough activity. The program's complexity, combined with its limited financial benefits, makes it challenging to maintain, leading to the decision to discontinue it. The Securities and Exchange Commission invites public comments on this proposed change, suggesting that Nasdaq PHLX operates in a competitive market where participants can choose to trade elsewhere if dissatisfied with the changes.

The Securities and Exchange Commission (SEC) has announced a proposal from BOX Exchange LLC to change their rules, enabling the listing and trading of options on the Fidelity Ethereum Fund. The proposed rule change aims to enhance market transparency and provide investors with additional hedging strategies and lower-cost investment options related to Ethereum. These proposed options would follow similar procedures as those for existing options on Bitcoin or precious-metal exchange-traded products, with specific limitations set on contract positions to ensure market stability and prevent manipulation. The SEC is seeking public comments on this proposal and has provided details on how to submit feedback.

The Securities and Exchange Commission gave notice of the Cboe Exchange's proposed rule change, allowing for listing and trading options on the Grayscale Ethereum Trust ETF, Grayscale Ethereum Mini Trust ETF, and the Bitwise Ethereum ETF. The proposal seeks to amend existing rules to facilitate these options trades, adding a position limit of 25,000 contracts per Ethereum Fund option. The Cboe Exchange argues that trading options on these funds will provide investors a cost-effective and transparent way to gain exposure to Ethereum without directly handling the cryptocurrency. The SEC is inviting public comments on this notice and has waived the typical 30-day waiting period, allowing the rule to take immediate effect.

The NYSE American LLC has filed a proposed rule with the Securities and Exchange Commission to list and trade options on the iShares Ethereum Trust ETF and the Fidelity Ethereum Fund. These funds, referred to as Ether Funds, aim to reflect the performance of ether, providing investors with a way to engage in the ether market without handling the cryptocurrency directly. The proposed rule change suggests setting position and exercise limits at 25,000 contracts for these options, similar to limits for bitcoin-related options, to help prevent market manipulation. The proposed rule has already been approved for similar listings by other exchanges like Nasdaq ISE and Cboe.