Search Results for keywords:"cryptocurrency investment"

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Search Results: keywords:"cryptocurrency investment"

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  • 2025-02682 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To List and Trade Shares of the Bitwise Solana ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
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    Type:Notice
    Citation:90 FR 9772
    Reading Time:about 54 minutes

    The Securities and Exchange Commission is considering a proposal from Cboe BZX Exchange to list and trade shares of the Bitwise Solana ETF, which would track the performance of SOL, a digital asset on the Solana Network. This proposal argues that the ETF would provide a transparent and regulated way for U.S. investors to access SOL, potentially reducing risks and costs associated with alternative investments. Bitwise believes that the decentralized and global nature of SOL trading makes it difficult to manipulate, addressing past SEC concerns about market manipulation. The SEC seeks public comments on this proposal before making a decision on its approval.

    Simple Explanation

    Cboe BZX Exchange wants to offer a new way for people to invest in a digital money called Solana (SOL). They believe this will make it safer and easier for people to invest, and now they're waiting for the SEC to give the thumbs up.

  • 2025-02499 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Shares of the Grayscale Solana Trust Under NYSE Arca Rule 8.201-E, Commodity-Based Trust Shares
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    Type:Notice
    Citation:90 FR 9470
    Reading Time:about 98 minutes

    On January 24, 2025, NYSE Arca filed a proposed rule change with the Securities and Exchange Commission to list and trade shares of the Grayscale Solana Trust, which deals with Solana cryptocurrency, under specific trading rules. This proposal aims to institute a new way for people to securely invest in Solana via a regulated exchange. The Grayscale Solana Trust, governed by a sponsor and custodian, is structured to prevent fraud and ensure fair pricing. The SEC is currently reviewing the proposal and seeking public comments to evaluate its compliance with regulations designed to protect investors and maintain market integrity.

    Simple Explanation

    Imagine a treasure chest where people can safely keep their shiny Solana coins, a type of digital money, at a special place called NYSE Arca. They want to make this treasure chest really safe and fair, so they are asking some smart people, like the SEC, to make sure everything is okay before they open it for everyone to use.