Search Results for keywords:"Fidelity Wise Origin Bitcoin Fund"

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Search Results: keywords:"Fidelity Wise Origin Bitcoin Fund"

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  • 2024-28114 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To List and Trade Various Bitcoin Options
    💰
    Type:Notice
    Citation:89 FR 95309
    Reading Time:about 64 minutes

    The Securities and Exchange Commission (SEC) has been notified that Nasdaq ISE, LLC has filed a proposal to allow options trading for various Bitcoin-related exchange-traded funds (ETFs) on their exchange. The proposed rule aims to include Bitcoin-backed commodity ETFs, such as the Fidelity Wise Origin Bitcoin Fund and the ARK21Shares Bitcoin ETF, among others, as appropriate for options trading. The rule sets specific conditions and standards that these ETFs must meet to be eligible for options trading, ensuring they are widely held and actively traded. The SEC is seeking public comments on this proposal and has also considered waiving the 30-day operative delay to allow the rule to take effect immediately after filing.

    Simple Explanation

    Nasdaq wants to start selling special options for buying and selling Bitcoin funds, and they told the SEC about their plan. This means you might soon be able to trade these special options on their exchange, and the SEC wants to know what people think about this idea.

  • 2024-28102 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 402, Criteria for Underlying Securities To List and Trade Options on the Fidelity Wise Origin Bitcoin Fund (the “Fidelity Fund”) and the ARK 21Shares Bitcoin ETF (the “ARK 21 Fund”)
    💰
    Type:Notice
    Citation:89 FR 95301
    Reading Time:about 40 minutes

    MIAX Sapphire, LLC proposed a rule change to amend its Exchange Rule 402, allowing the listing and trading of options on two bitcoin-backed exchange-traded funds (ETFs): the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. The change is in response to similar approvals by other exchanges like Cboe and aims to provide investors with a cost-effective alternative for trading bitcoin-related products in a regulated environment. The proposal includes specific listing standards and surveillance measures to ensure fair trading and prevent manipulation, and it will operate under existing rules already applied to other ETFs.

    Simple Explanation

    MIAX Sapphire wants to let people trade special contracts called options on two bitcoin-based funds, just like other companies do, so that people have more choices to buy and sell things related to bitcoin. They promise to keep things fair and safe, but it might be tricky for some people to understand without knowing about rules or finance.

  • 2024-28107 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To List and Trade Option Contracts on the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, and the ARK21Shares Bitcoin ETF
    💰
    Type:Notice
    Citation:89 FR 95257
    Reading Time:about 43 minutes

    The NYSE American LLC has proposed a new rule to the Securities and Exchange Commission allowing the listing and trading of options on the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, and the ARK21Shares Bitcoin ETF. This initiative aims to boost market liquidity, price efficiency, and transparency for these Bitcoin-backed funds, ensuring investors have a stable and cost-effective way to engage with the Bitcoin market. The rule also outlines specific position limits and surveillance measures to prevent market manipulation and ensure investor protection. The proposal has been approved for immediate effectiveness, allowing options to be listed once all necessary systems are prepared to handle trading.

    Simple Explanation

    The NYSE American has a new plan that lets people trade pretend versions of some new Bitcoin investments, like iShares and Fidelity Bitcoin funds, which helps make buying and selling easier and keeps it fair so nobody cheats. This rule is ready to use right away, but grown-ups have to set up the systems to make trading work before it starts.

  • 2024-28341 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rules 3120 (Position Limits) and 5020 (Criteria for Underlying Securities) To Permit Options Trading on Bitcoin Funds
    💰
    Type:Notice
    Citation:89 FR 95834
    Reading Time:about 49 minutes

    The Securities and Exchange Commission has announced the filing by BOX Exchange LLC of a rule change to allow options trading on two Bitcoin funds: the Fidelity Wise Origin Bitcoin Fund and the ARK 21Shares Bitcoin ETF. These changes involve amendments to certain rules regarding position limits and criteria for underlying securities, similar to recent approvals granted to Cboe Exchange. The Exchange emphasizes the potential benefits for investors, such as improved market efficiency and transparency, and asserts that its existing surveillance measures are sufficient to ensure fair trading and detect any manipulative practices. The proposed rule change is expected to enhance competition and offer investors a new, priced-efficient way to access Bitcoin-related securities.

    Simple Explanation

    The government has allowed a company to let people trade new types of contracts that deal with Bitcoin funds, making it easier and safer for everyone to invest in Bitcoin. They promise to keep an eye on things to make sure no one cheats or tricks others.