Search Results for keywords:"GBTC"

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Search Results: keywords:"GBTC"

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  • 2025-04656 — Self-Regulatory Organizations; NYSE American LLC; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade FLEX Options on the Grayscale Bitcoin Trust
    Type:Notice
    Citation:90 FR 13229
    Reading Time:about 11 minutes

    The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by NYSE American LLC to allow the trading of Flexible Exchange (FLEX) options on the Grayscale Bitcoin Trust (GBTC). These options would let investors customize contract terms for trading GBTC options, with position and exercise limits set at 25,000 contracts. The SEC has started a process to decide whether to approve or disapprove this change, emphasizing the need for additional analysis on whether it aligns with regulatory requirements designed to protect investors and ensure fair trading. The public is invited to submit comments or concerns by April 10, 2025, with rebuttals due by April 24, 2025.

    Simple Explanation

    The SEC is thinking about letting people trade special, flexible options on a Bitcoin investment fund, but they're being careful to make sure it will be fair and safe for everyone. They're asking people to share their thoughts about this idea before they make a decision.

  • 2024-31090 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of Proposed Change To Amend Certain Rules Related to Flexible Exchange Options
    Type:Notice
    Citation:89 FR 105669
    Reading Time:about 21 minutes

    The NYSE American LLC has proposed a rule change regarding Flexible Exchange (FLEX) Options to include trading on the Grayscale Bitcoin Trust (GBTC). The rule suggests that FLEX GBTC options carry the same position limits as existing GBTC options, restricting both to 25,000 contracts to mitigate market manipulation risks. The Exchange believes FLEX GBTC options will offer advantages over over-the-counter (OTC) options, such as increased liquidity, transparency, and reduced counter-party credit risk, helping investors manage risks associated with bitcoin volatility. The Securities and Exchange Commission (SEC) is soliciting public comments on this proposal before making a decision on its approval.

    Simple Explanation

    The NYSE American wants to make a new rule to let people trade a special kind of option (a type of investment) for something called Bitcoin, using an organization called Grayscale Bitcoin Trust. They think this will make things easier and safer for people wanting to trade, but they also want to be careful and make sure it's done safely by setting limits on how much people can trade.