MIAX Sapphire, LLC has filed a proposed rule change with the Securities and Exchange Commission (SEC) to allow trading options on the Grayscale Ethereum Trust, Grayscale Ethereum Mini Trust, and Bitwise Ethereum ETF. These funds, also called Ether Funds, allow investors to track ether's performance without dealing with the complexities of ether delivery. Options on Ether Funds will be physically settled and subject to specific trading rules. The rule change aims to offer investors a lower-cost tool to manage investments linked to ether and promote trading transparency.
Simple Explanation
The stock exchange wants to let people buy and sell special "bets" on how well a type of money called ether does without needing to actually own it. This makes it easier for people to trade and manage their money.