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On 8 November 2023, the US Securities and Exchange Commission (SEC) opened a consultation on a proposed rule change by the Chicago Board Options Exchange (CBOE) to allow the trading of shares of the Invesco Galaxy Ethereum ETF until 29 November 2023. The CBOE argues that this proposed rule change is applicable under the BZX Rule 14.11(e)(4), which governs Commodity-Based Trust Shares. The CBOE aims to introduce a regulated and exchange-traded instrument for Ethereum to increase the exposure that US retail investors have to Ethereum. Simultaneously, the CBOE highlights that under the current model in the US, retail investors and consumers are subject to higher risks and higher fees when trading Ethereum.
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