Nasdaq PHLX LLC proposed a change to allow FLEX Trading in the iShares Bitcoin Trust ETF, which was filed with the Securities and Exchange Commission (SEC) on December 26, 2024. The SEC originally had 45 days to decide on this proposal, but has chosen to extend this period to allow for more thorough consideration. The new deadline for the SEC to approve, disapprove, or consider disapproval of the rule change is set for April 14, 2025. This decision allows the SEC more time to assess the proposal and any feedback received.
Simple Explanation
The Securities and Exchange Commission (SEC) needs more time to decide if a special type of trading, called FLEX Trading, should be allowed for a fund linked to Bitcoin. They've moved their decision deadline to April 14, 2025, so they can think it over some more and see what people are saying about it.