The Securities and Exchange Commission is considering a rule change proposed by the Cboe BZX Exchange, Inc. to allow the generic listing and trading of multi-class ETF shares. This proposal was submitted on November 8, 2024, and made available for public comment on November 25, 2024. Usually, the Commission has 45 days to act on such proposals, but they have decided to extend this period to ensure they have enough time to review and address any issues. The new deadline for the Commission's decision is now set for February 23, 2025.
Simple Explanation
The SEC (a group that helps keep money and trading fair) is thinking about a new idea from the Cboe BZX Exchange, which is like a big store for trading things called ETFs, to let them sell more kinds of these trading shares. They need more time, until February 23, 2025, to make sure they do it right.