The Securities and Exchange Commission is considering a proposal from the Cboe BZX Exchange, Inc. to list and trade shares of the WisdomTree XRP Fund. This fund would allow investors to invest in XRP, a type of digital asset, through a regulated exchange-traded product rather than directly buying and holding XRP. The proposal includes various measures to prevent fraud and manipulation in the trading of XRP and claims that these measures would protect investors. The Commission is seeking public comments on whether or not they should approve this rule change.
Simple Explanation
Cboe BZX Exchange wants to let people buy shares of a fund that holds a digital coin called XRP like a stock, so they don't have to buy the coin directly. The SEC is checking if this is safe and fair, and they want people to tell them what they think before deciding.