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Search Results: keywords:"Bitwise XRP ETF"

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2025-04230 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the Bitwise XRP ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
March 17, 2025
Type:Notice
Citation:90 FR 12426
Reading Time:about a minute or two
The Securities and Exchange Commission (SEC) is extending the time to make a decision on a proposed rule change by the Cboe BZX Exchange, Inc. to list and trade shares of the Bitwise XRP ETF. The rule change was initially published for public comment on February 24, 2025, and the SEC has moved the deadline to either approve or disapprove the proposal to May 25, 2025. This extension gives the SEC more time to consider the details and issues related to the proposed rule change.
Simple Explanation
The people in charge of rules for buying and selling things on the Cboe BZX Exchange need more time to decide if a special new way to buy and sell something called the Bitwise XRP ETF is okay to use. They moved the deadline from February to May so they can think about it more.
2025-02945 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To List and Trade Shares of the Bitwise XRP ETF Under BZX Rule 14.11(e)(4) (Commodity-Based Trust Shares)
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February 24, 2025
Type:Notice
Citation:90 FR 10525
Reading Time:about 50 minutes
The Securities and Exchange Commission (SEC) has announced that the Cboe BZX Exchange, Inc. has proposed a rule change to list and trade shares of the Bitwise XRP ETF under its Commodity-Based Trust Shares rules. The ETF aims to track the performance of XRP, a digital asset used for fast and low-cost cross-border payments. The proposal is designed to prevent fraud and manipulation while protecting investors, mirroring previous approvals for similar ETFs based on Bitcoin and Ethereum. The SEC is currently seeking public comments on this proposal before deciding on its approval.
Simple Explanation
The SEC is looking at a new plan where a company wants to make a special trading fund that works like a basket to hold a digital money called XRP. This plan is meant to let people trade XRP in a safer and more controlled way, and they want to make sure no one cheats or lies.

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