The Securities and Exchange Commission (SEC) is evaluating a proposed rule change by NYSE Arca, Inc. that would allow the listing and trading of new types of investments, specifically those based on commodities and digital assets, such as cryptocurrencies. The proposal suggests the creation of NYSE Arca Rule 8.800-E to provide guidelines for these investments and includes plans to list and trade shares of the Grayscale Digital Large Cap Fund LLC, a fund comprised of digital assets like bitcoin and ether. The SEC is opening proceedings to consider whether this proposal meets the laws designed to prevent fraud and protect investors, while also inviting public comments to help in their decision-making process.
Simple Explanation
The people in charge of watching over money matters are thinking about letting a special kind of new money thing (like invisible coins you can't touch) be bought and sold in new ways to make it safer and fairer. They want to make sure anything new they allow won't trick people or cause problems, so they're asking people what they think.