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2025-04237 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change, as Modified by Amendment No. 2, To Amend the Rules Governing the Listing and Trading of Shares of the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF To Permit In-Kind Creations and Redemptions
March 17, 2025
Type:Notice
Citation:90 FR 12409
Reading Time:about 2 minutes
On January 27, 2025, the Cboe BZX Exchange submitted a request to the Securities and Exchange Commission (SEC) to change rules about how certain Bitcoin and Ethereum exchange-traded funds (ETFs) work. They want to allow in-kind creations and redemptions, which basically means allowing shares to be created and redeemed in exchange for a basket of assets like cash or stocks, rather than just cash. The SEC is extending the time they initially had to decide on this proposal to May 15, 2025, so they can carefully consider all aspects of the proposed changes. No public comments have been made on this proposal yet.
Simple Explanation
Imagine there are special boxes where people can put either money or toys to get new toys in return. The people in charge want to change the rules for how these boxes work, and they need more time to think about it until May 15, 2025, so they can make the best choice.
2024-30780 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 19.3, Criteria for Underlying Securities, To List and Trade Options on the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF
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December 26, 2024
Type:Notice
Citation:89 FR 105118
Reading Time:about 49 minutes
The Securities and Exchange Commission has published a notice about a proposed rule change by MEMX LLC to list and trade options on two Bitcoin exchange-traded funds (ETFs): the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. This rule change aims to amend Exchange Rule 19.3 to allow trading options on these Bitcoin Funds. The plan is seen as competitive, following similar moves by another exchange, Cboe. MEMX believes that offering these options will provide investors with a lower-cost way to invest in Bitcoin, increase market transparency, and improve price discovery on the exchange.
Simple Explanation
MEMX, a group that helps people trade, wants to let people trade new kinds of Bitcoin stuff called "options" for two special Bitcoin funds. They think this will help people understand and buy Bitcoin more easily, like how another group does it, and it could make buying Bitcoin cheaper and clearer.

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