The Cboe BZX Exchange, Inc. is proposing a rule change to allow the listing and trading of shares in a new exchange-traded fund (ETF) called the Canary SUI ETF. This ETF will be based on the Commodity-Based Trust Shares under BZX Rule 14.11(e)(4) and is designed to track the performance of SUI, a type of cryptocurrency. The proposal includes details on how the ETF will manage and protect investor interests by ensuring transparency and preventing fraud and manipulation, similar to other approved crypto-based funds. The Securities and Exchange Commission is evaluating the proposal and is seeking public comments before making a decision.
Simple Explanation
The Cboe BZX Exchange, Inc. wants to make a new fund for people to buy and sell that tracks a special type of internet money called SUI, like how some funds follow gold or oil prices. The people who make the rules are checking to make sure it will be safe and fair before they say yes, and they're asking others what they think about it, too.