The Securities and Exchange Commission (SEC) has received a proposed rule change from MIAX Sapphire, LLC. This rule change aims to allow the listing and trading of options on Commodity-Based Trust Shares, which are financial products that represent interests in a trust holding commodities like gold, silver, or cryptocurrencies. The proposal is similar to filings by other exchanges, and the SEC is now inviting public comments on it. If approved, this change could make it easier and faster for these options to become available on the market, offering investors new ways to manage risks associated with commodities.
Simple Explanation
The government is looking at a new idea from a company called MIAX Sapphire, which wants to make it easier for people to buy and sell special bets on items like gold or digital money. They're asking people if they think this is a good idea.