The Securities and Exchange Commission has released a notice that the Cboe BZX Exchange, Inc. is proposing a rule change to allow the listing and trading of shares of the Canary XRP Trust under BZX Rule 14.11(e)(4). The proposal aims to list these shares, which are linked to the digital asset XRP, on a regulated exchange. The document also discusses the measures in place to prevent fraudulent activities, while ensuring investor protection by exposing U.S. investors to XRP through a regulated, exchange-traded product. The public is invited to comment on this proposal to ensure adherence to the rules governing fair and transparent markets.
Simple Explanation
The Securities and Exchange Commission is thinking about letting a company list a special kind of investment on the stock market that is connected to a digital currency called XRP, to help keep it safe and fair for everyone. They want to make sure people can trade it without getting tricked and are asking for ideas on how they can do it right.