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Search Results: keywords:"Grayscale Bitcoin Trust"

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2024-28103 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 9, Section 13, Position Limits, and Options 9, Section 15, Exercise Limits, Regarding Options on the Fidelity Wise Origin Bitcoin Fund, the ARK21Shares Bitcoin ETF, the Grayscale Bitcoin Trust (BTC), the Grayscale Bitcoin Mini Trust BTC, and the Bitwise Bitcoin ETF iShares Bitcoin Trust ETF
December 02, 2024
Type:Notice
Citation:89 FR 95345
Reading Time:about 9 minutes
Nasdaq BX, Inc. has submitted a proposal to the Securities and Exchange Commission (SEC) to amend certain rules relating to position and exercise limits for options on several Bitcoin-related financial products. These amendments reflect recent approvals by other exchanges like Cboe and NYSE American to establish a limit of 25,000 contracts for these options. The goal is to ensure that trading these options is consistent across different exchanges. The SEC has agreed to fast-track the proposal's implementation to immediately align with standards already set elsewhere, benefiting investors by maintaining uniform trading conditions.
Simple Explanation
Nasdaq wants to change some rules about how much people can buy of special money-related options that are connected to Bitcoin, making it just like other places so it's fair and easy for everyone. The rule helps people trade this way more smoothly by keeping the same limits that other places have started using.
2024-28109 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rules 3120 (Position Limits) and 5020 (Criteria for Underlying Securities) To Permit Options Trading on Bitcoin Funds
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December 02, 2024
Type:Notice
Citation:89 FR 95339
Reading Time:about 36 minutes
The Securities and Exchange Commission (SEC) announced that the BOX Exchange LLC filed a proposed rule change to allow options trading on Bitcoin Funds, including the Grayscale Bitcoin Trust and Bitwise Bitcoin ETF. This proposal, effective immediately, aligns with a similar rule change recently approved for another exchange, NYSE American. The BOX Exchange argues that offering Bitcoin Fund options will provide investors with cost-efficient investment tools and improved market transparency. The regulatory filing outlines the rules and safeguards, including position limits and surveillance measures, to ensure fair and transparent trading.
Simple Explanation
The document says that a group called the SEC is allowing a place where people buy and sell things, called the BOX Exchange, to let people trade special kinds of bets called options on something like imaginary coins called Bitcoin. This, they say, is to help people have new ways to invest their money.
2025-02557 — Self-Regulatory Organizations; NYSE American LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Certain Rules Related to Flexible Exchange Options on the Grayscale Bitcoin Trust
February 13, 2025
Type:Notice
Citation:90 FR 9570
Reading Time:about a minute or two
NYSE American LLC submitted a proposed rule change to the Securities and Exchange Commission (SEC) to allow Flexible Exchange (FLEX) options on shares of the Grayscale Bitcoin Trust. This proposal was published on December 27, 2024, but received no public comments. The SEC, needing more time to evaluate the proposal, has extended the decision deadline to March 27, 2025. By this date, the SEC will decide whether to approve, disapprove, or begin proceedings to possibly disapprove the proposed rule change.
Simple Explanation
The people who make rules about money and stocks are thinking about allowing a special kind of trading for something called Bitcoin, but they need more time to decide if it's a good idea. So, they've decided to wait a little longer before making their choice.
2024-28259 — Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend FLEX Options Listing
December 03, 2024
Type:Notice
Citation:89 FR 95851
Reading Time:about 9 minutes
Nasdaq ISE, LLC has proposed a rule change to avoid trading Flexible Exchange Options (FLEX Options) on certain Bitcoin-related investment products. These include options on Bitcoin trusts like the Fidelity Wise Origin Bitcoin Fund and the Grayscale Bitcoin Trust, among others. This decision is in line with previous approvals that limit position and exercise limits to 25,000 contracts for these trusts. The change ensures that these options will not conflict with the existing rules, maintaining consistent limits across exchanges and protecting investor interests.
Simple Explanation
Imagine a big playground where only a certain number of kids can play with a special toy. Some rules were made so that everyone stays happy and safe, and one of the big playgrounds, called Nasdaq, decided not to let kids play with the toy in a new way using something like pretend Bitcoins, so everything stays nice and fair.

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