Bitcoin Swaps Get SEC Nod? Nasdaq Pushes Crypto Cashless Trades
Published Date: 3/17/2025
Notice
Summary
The Nasdaq Stock Market wants to change the rules for the iShares Bitcoin Trust so investors can trade shares by swapping actual Bitcoin instead of cash. The SEC is taking extra time to review this idea carefully before deciding. This affects anyone trading these shares and could make trading smoother and possibly cheaper in the future.
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Proposal to Allow In‑Kind ETF Creations
The Nasdaq filed a proposed rule change on January 24, 2025 (amended February 4, 2025) to amend the listing and trading rules for the iShares Bitcoin Trust to permit in‑kind creations and redemptions. The SEC has designated May 13, 2025 as the date by which it will either approve, disapprove, or institute proceedings on that proposed change.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-12524 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend Rule 11.9(d) To Permit an Intermarket Sweep Order (“ISO”) To Be Entered as a Non-Displayed Order and To Establish the Price Level at Which the System Will Consider an ISO Available for Other Orders To Be Entered
Cboe BZX Exchange is updating its rules to let a special type of order called an Intermarket Sweep Order (ISO) be hidden from view when entered. They’re also setting clear price rules for when these orders can be matched with others, and allowing hidden orders to adjust prices more aggressively. This change affects traders using the BZX Exchange and aims to make trading faster and smarter, with the new rules kicking in soon after approval.
2026-12607 — The RBB Fund Trust and Seven Post Investment Office LP
The RBB Fund Trust and Seven Post Investment Office LP want permission to change their subadvisory agreements without asking shareholders first and to keep some fee details private. This could speed up how they manage investments and handle fees. If no one objects by July 13, 2026, the SEC will approve these changes.
Previous / Next Documents
Previous: 2025-04242 — National Center for Advancing Translational Sciences; Notice of Closed Meetings.
The National Center for Advancing Translational Sciences is holding a closed virtual meeting on April 3, 2025, to review special grant applications. These meetings are private to protect secret business info and personal details. This process helps decide who gets funding to support important health research.
Next: 2025-04244 — National Institute of Biomedical Imaging and Bioengineering; Notice of Closed Meetings
The National Institute of Biomedical Imaging and Bioengineering is holding several closed virtual meetings in late April 2025 to review and decide on grant applications. These meetings protect private info and trade secrets while helping decide who gets funding for cool science projects. If you’re applying for grants, these dates are key for your funding chances!