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2025-01289 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the Bitwise 10 Crypto Index Fund Under Proposed NYSE Arca Rule 8.800-E (Commodity- and/or Digital Asset-Based Investment Interests)
January 21, 2025
Type:Notice
Citation:90 FR 7199
Reading Time:about a minute or two
The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by NYSE Arca, Inc. to list and trade shares of the Bitwise 10 Crypto Index Fund. This change falls under the proposed NYSE Arca Rule 8.800-E, which relates to investments based on commodities and/or digital assets. Initially, the SEC had 45 days to make a decision since the proposal's publication in the Federal Register on December 3, 2024. However, the SEC has decided to extend this period until March 3, 2025, to allow more time to consider the details and implications of the proposal.
Simple Explanation
The SEC is taking a bit more time to think about whether a new set of rules can let a special group called NYSE Arca trade shares in a fund full of different kinds of pretend money, like Bitcoin. They want to be extra sure before they say yes or no.
2024-28343 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To List and Trade Shares of the Bitwise 10 Crypto Index Fund Under Proposed NYSE Arca Rule 8.800-E (Commodity- and Digital Asset-Based Investment Interests)
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December 03, 2024
Type:Notice
Citation:89 FR 95853
Reading Time:about 76 minutes
The Securities and Exchange Commission (SEC) is evaluating a rule change proposed by NYSE Arca to list and trade shares of the Bitwise 10 Crypto Index Fund, which primarily deals with digital currencies like Bitcoin and Ethereum. This fund, operating under proposed NYSE Arca Rule 8.800-E, will not use derivatives, thus minimizing counterparty risks and will only handle digital assets and cash. The SEC will decide on the rule change by either approving, disapproving, or investigating further within a set timeframe. Interested parties are invited to submit their comments on this proposal to the SEC.
Simple Explanation
The SEC is thinking about letting a company called NYSE Arca offer a special box of digital money, like Bitcoin, called the Bitwise 10 Crypto Index Fund. This box won't use tricky things called derivatives, which makes it safer, and people can tell the SEC what they think about this plan.

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