Type:Notice
Citation:90 FR 16711
Reading Time:about 34 minutes
MIAX Sapphire, LLC is proposing a change to Exchange Rule 402 to allow the listing and trading of options on the VanEck Bitcoin Trust. This initiative aims to provide investors with a more cost-effective way to gain exposure to Bitcoin by using options, similar to how they would use other Exchange Traded Funds (ETFs) already approved for trading. The proposal intends to enhance market transparency and encourage more order flow. The Securities and Exchange Commission is inviting public comments on this proposal as part of its review process.
Simple Explanation
MIAX Sapphire wants to make a new rule that lets people trade special "bets" on Bitcoin prices, just like they do with other funds. They want everyone to weigh in and share their thoughts on this idea.