Nasdaq Stock Market LLC filed a proposed rule change with the SEC to list and trade shares of the CoinShares Litecoin ETF under Nasdaq Rule 5711(d), which focuses on Commodity-Based Trust Shares. The CoinShares Litecoin ETF will allow investors to gain exposure to Litecoin, a digital currency. The proposal outlines how the ETF will operate, including its investment objective, valuation, and security measures for safeguarding the digital currency. The SEC is seeking public comments on this proposed rule change before making a decision to approve or disapprove it.
Simple Explanation
Nasdaq wants to offer a way for people to invest in Litecoin, a type of digital money, by creating something like a "Litecoin fund" that people can buy shares of; the government is checking if this is a good idea and wants people to share their thoughts.