Search Results for keywords:"in-kind creations and redemptions"

On January 27, 2025, the Cboe BZX Exchange submitted a request to the Securities and Exchange Commission (SEC) to change rules about how certain Bitcoin and Ethereum exchange-traded funds (ETFs) work. They want to allow in-kind creations and redemptions, which basically means allowing shares to be created and redeemed in exchange for a basket of assets like cash or stocks, rather than just cash. The SEC is extending the time they initially had to decide on this proposal to May 15, 2025, so they can carefully consider all aspects of the proposed changes. No public comments have been made on this proposal yet.

The Cboe BZX Exchange submitted a proposal to the Securities and Exchange Commission (SEC) to change the rules for trading shares of the VanEck Bitcoin Trust and VanEck Ethereum Trust. This change would allow in-kind creations and redemptions of these shares. The SEC typically has 45 days to approve or disapprove such proposals, but they have decided to extend this deadline to June 3, 2025, to take a closer look at the proposal. This extension will give the SEC more time to consider the details and implications of the proposed changes.

The Cboe BZX Exchange, Inc. has proposed a change to allow the ARK 21Shares Bitcoin ETF and the 21Shares Core Ethereum ETF to enable in-kind creations and redemptions. Instead of dealing solely in cash, investors can now create or redeem shares using bitcoin or ether, which potentially enhances market efficiency. This change aims to reduce the impact of these transactions on the market by letting participants manage how they acquire or dispose of crypto assets. The proposal is under review by the Securities and Exchange Commission, which is seeking public feedback.

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.

The Securities and Exchange Commission (SEC) received a proposed rule change from the Cboe BZX Exchange, Inc. to amend the WisdomTree Bitcoin Fund to allow for in-kind creations and redemptions. Currently, the Trust processes creations and redemptions in cash, but the proposed change will enable them to handle these transactions either in cash or in-kind (using bitcoin). This adjustment is intended to improve the efficiency of the market by allowing authorized participants to transact using bitcoin directly instead of cash, potentially reducing market impact. The SEC is inviting feedback from the public on whether this proposed change aligns with the securities laws.

The Securities and Exchange Commission (SEC) announced a longer period for reviewing a proposed rule change by the Cboe BZX Exchange, Inc. This rule change would allow shares of the Fidelity Wise Origin Bitcoin Fund and the Fidelity Ethereum Fund to be created and redeemed in-kind. Initially filed on February 7, 2025, and published on February 25, 2025, the SEC extended the review period beyond the original 45 days to give more time for evaluation. The new deadline for a decision is now set for May 26, 2025.

The Nasdaq Stock Market LLC submitted a proposal to the Securities and Exchange Commission (SEC) to change the rules for listing and trading the shares of the iShares Bitcoin Trust, allowing for in-kind creations and redemptions. After an amendment was added on February 4, 2025, the SEC decided to extend their review period to have more time to consider this proposal and any related issues. They have set a new deadline of May 13, 2025, to decide whether to approve, disapprove, or further investigate the proposed rule change. This extension gives the SEC more time to ensure they thoroughly evaluate the implications of the rule modification.