2025-04243Notice

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.

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Key Dates

Published Date
Effective Date
3/17/2025
5/13/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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