Search Results for keywords:"Commodity-Based Trust Shares"

On January 30, 2025, NYSE Arca, Inc. proposed a rule change to the Securities and Exchange Commission (SEC) to list and trade shares of the Grayscale XRP Trust as a commodity-based trust share on the NYSE Arca. The Trust's main goal is to offer investors a way to gain investment exposure to XRP, a digital asset, on a regulated exchange. The Trust operates without active management and holds XRP, allowing investors to avoid the complexities of purchasing and securing XRP directly. The SEC is seeking public comments on this proposal and will decide whether to approve it within 45 to 90 days.

The Cboe BZX Exchange, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to list and trade shares of the VanEck Solana Trust under BZX Rule 14.11(e)(4). This rule pertains to Commodity-Based Trust Shares. The Exchange suggests that Solana (SOL) is resistant to price manipulation and highlights the regulation's aim to create a safer and more transparent investment option for U.S. investors, addressing manipulation concerns and ensuring compliance with the Act. The SEC invites public comments on this proposal before making a decision to approve or disapprove it.

The Securities and Exchange Commission (SEC) announced that Cboe BZX Exchange, Inc. has proposed a rule change to allow the listing and trading of shares in the Franklin XRP Fund under a specific rule for Commodity-Based Trust Shares. This fund, known as the Franklin XRP ETF, intends to offer investors a way to gain exposure to XRP, a digital asset, in a regulated exchange-traded format, and it highlights measures to ensure protection against fraud and market manipulation. The proposal argues that XRP's market characteristics make it resistant to manipulation, thus meriting exemption from certain regulatory agreements. Public comments on this proposal are being solicited and will be reviewed by the SEC before making any final decisions.

The Securities and Exchange Commission (SEC) has received a proposal from The Nasdaq Stock Market LLC to list and trade shares of the Canary HBAR ETF under its Commodity-Based Trust Shares rules. The ETF is designed to track the performance of the HBAR cryptocurrency, a native asset of the Hedera Network, through a trust that holds only HBAR and cash. Canary Capital Group LLC sponsors the trust, and the ETF aims to offer exposure to HBAR by following the CoinDesk Hedera USD CCIX 30min NY Rate for pricing. The SEC is seeking public comments on this proposal to evaluate whether it complies with federal regulations and effectively prevents fraud and manipulation.

The Securities and Exchange Commission has received a proposed rule change from the Cboe BZX Exchange, Inc. to list and trade shares of the Canary Solana Trust under BZX Rule 14.11(e)(4), which covers Commodity-Based Trust Shares. The Trust aims to track the performance of SOL, a digital asset from the decentralized Solana Network, focusing on preventing fraudulent and manipulative practices. To do this, they plan to utilize various security measures, including transparency in pricing and information dissemination. The SEC is seeking public comments before making a final decision, with the deadline set for March 11, 2025.

The Securities and Exchange Commission has announced a proposed rule change to allow Nasdaq to list and trade shares from the Grayscale Avalanche Trust (AVAX) under its rules for Commodity-Based Trust Shares. These shares will let investors indirectly invest in AVAX, a cryptocurrency from the Avalanche Network, similar to how they might invest in other commodities like gold. The Trust will not be actively managed, and the value of its shares will reflect the value of the AVAX it holds, minus associated expenses. The proposal also includes measures to prevent fraud and manipulation, despite AVAX's market not being primarily regulated.

The Securities and Exchange Commission is considering a proposal from the Cboe BZX Exchange, Inc. to list and trade shares of the WisdomTree XRP Fund. This fund would allow investors to invest in XRP, a type of digital asset, through a regulated exchange-traded product rather than directly buying and holding XRP. The proposal includes various measures to prevent fraud and manipulation in the trading of XRP and claims that these measures would protect investors. The Commission is seeking public comments on whether or not they should approve this rule change.

The Securities and Exchange Commission has announced that the Miami International Securities Exchange is proposing a change to its rules that would allow the listing and trading of options on Commodity-Based Trust Shares. These trust shares represent interests in a trust that holds specific commodities and sometimes cash, similar to how some ETFs work. The purpose of the change is to make it easier and faster to list options on these trust shares once they have met initial criteria without needing further approvals. This proposal is part of a competitive effort alongside other exchanges like Nasdaq, NYSE, and Cboe, and aims to increase investment options for market participants while promoting competition and consistency in the rules for trading such options.

On February 10, 2025, NYSE Arca, Inc. submitted a proposal to the Securities and Exchange Commission to list and trade shares of the Grayscale Cardano Trust (ADA) under the exchange's commodity-based trust regulations. This proposal, updated by a second amendment on February 20, 2025, outlines the purpose and operation of the trust, emphasizing the roles of entities like Grayscale Investments and Coinbase Custody. The Cardano Trust functions by holding Cardano (ADA) digital assets and is designed as a cost-effective way for investors to gain exposure to ADA without holding the asset directly. The proposal includes details on the Cardano network, the trust's operation, rules for creating and redeeming trust shares, and the security protocols for storing digital asset keys.

The Securities and Exchange Commission (SEC) has announced that the Cboe BZX Exchange, Inc. has proposed a rule change to list and trade shares of the Bitwise XRP ETF under its Commodity-Based Trust Shares rules. The ETF aims to track the performance of XRP, a digital asset used for fast and low-cost cross-border payments. The proposal is designed to prevent fraud and manipulation while protecting investors, mirroring previous approvals for similar ETFs based on Bitcoin and Ethereum. The SEC is currently seeking public comments on this proposal before deciding on its approval.