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On 21 May 2024, the Securities and Exchange Commission (SEC) closes its public consultation on a proposed rule change to amend Exchange Rule 5020 by BOX Exchange LLC. BOX Rule 5020 pertains to the criteria for underlying securities. The current Exchange Rule 5020(h) stipulates that, subject to specific criteria, exchange-traded funds (ETFs) eligible for options trading may include those representing interests in particular trusts holding financial instruments, money market instruments, or precious metals considered commodities. This amendment aims to authorise the listing and trading of options on exchange-traded funds (ETFs) that represent interests in trusts holding Bitcoin Exchange-Traded Products (ETPs). The proposed rule change is intended to align with competitive filings by other exchanges and to offer investors the opportunity to gain exposure to bitcoin through options trading on regulated platforms.
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