The Cboe BZX Exchange, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend rules concerning two investment products: the Invesco Galaxy Bitcoin ETF and the Invesco Galaxy Ethereum ETF. The proposal aims to allow these ETFs to process creations and redemptions both in cash and in-kind. This change is intended to improve the efficiency of trading by allowing participants to use actual cryptocurrencies like bitcoin or ether instead of cash alone, potentially streamlining transactions and reducing market impacts. The SEC is inviting public comments on this proposal until April 8, 2025.
Simple Explanation
The Cboe BZX Exchange wants to change some rules so that certain funds can be bought and sold using real bitcoin or ether instead of just money, hoping to make trading easier. They're asking people to share their thoughts on this plan by April 8, 2025.