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Search Results: citation:"89 FR 105118"

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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.
2024-30681 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Permit the Generic Listing and Trading of Multi-Class ETF Shares
December 26, 2024
Type:Notice
Citation:89 FR 105118
Reading Time:about a minute or two
The Securities and Exchange Commission is considering a rule change proposed by the Cboe BZX Exchange, Inc. to allow the generic listing and trading of multi-class ETF shares. This proposal was submitted on November 8, 2024, and made available for public comment on November 25, 2024. Usually, the Commission has 45 days to act on such proposals, but they have decided to extend this period to ensure they have enough time to review and address any issues. The new deadline for the Commission's decision is now set for February 23, 2025.
Simple Explanation
The SEC (a group that helps keep money and trading fair) is thinking about a new idea from the Cboe BZX Exchange, which is like a big store for trading things called ETFs, to let them sell more kinds of these trading shares. They need more time, until February 23, 2025, to make sure they do it right.

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