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On 21 May 2024, the Securities and Exchange Commission closes its public consultation regarding a proposal by Cboe Exchange, Inc. to amend Rule 4.3 for the listing and trading of options on Bitcoin Exchange-Traded Products (ETPs). These ETPs, designated as "Units," are structured to provide investors with access to bitcoin markets through interests in a trust holding bitcoin, thereby tracking the performance of bitcoin. The proposed amendment specifically seeks to include Bitcoin ETPs among the units that can underlie options, thereby expanding the current range to include various securities, financial instruments, and precious metals. Cboe asserts its capacity to manage the new options series with an adequate system infrastructure and surveillance mechanisms to prevent market manipulation.
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