Cboe BZX Exchange, Inc. submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend how shares of the WisdomTree Bitcoin Fund are listed and traded. They want to allow "in-kind" creations and redemptions, meaning investors could exchange shares for the actual assets, like Bitcoin, instead of cash. Originally published for comment on March 5, 2025, the SEC decided to extend the time for reviewing this proposed change to ensure they have enough time to consider the details and potential impact. The new date by which they will make a decision is June 3, 2025.
Simple Explanation
The rules for trading bets on the value of a special kind of money called Bitcoin on a particular exchange are being changed so that people can swap their bets for actual Bitcoin, not just cash. The group in charge of making sure everything is safe and fair needs more time to think about whether to allow this, and they will decide by June 3, 2025.