On March 1, 2021, Cboe BZX Exchange, Inc. (“BZX” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”)1 and Rule 19b-4 thereunder,2 a proposed rule change to list and trade shares (“Shares”) of the VanEck Bitcoin Trust (“Trust”) under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares. The proposed rule change was published for comment in the Federal Register on March 19, 2021.3 On April 28, 2021, pursuant to Section 19(b)(2) of the Exchange Act,4 the Commission designated a longer period within which to ... (full story)

The U.S. Securities and Exchange Commission has rejected a proposed effort to list a spot bitcoin exchange-traded fund. The agency, which regulates securities markets in the U.S., had previously punted its final determination on VanEck's proposed fund. The most recent delay took place in September, setting the stage for a final deadline of November 14 (though it was expected sometime Friday given the weekend timing). "This order disapproves the proposed rule change," the SEC said in its notice, published Friday. "The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s ... (full story)