SEC Hits Pause on Bitcoin Trust Trading Until July
Published Date: 5/20/2025
Notice
Summary
The SEC is taking extra time to review Cboe BZX Exchange’s plan to list and trade shares of the Osprey Bitcoin Trust, a new way to invest in Bitcoin through the stock market. This means investors and the exchange will wait longer—until July 1, 2025—for a final decision. No money changes hands yet, but this move could open new doors for Bitcoin investing if approved.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
SEC extends review deadline to July 1, 2025
The SEC extended its 45-day review period for Cboe BZX’s proposed listing of the Osprey Bitcoin Trust so the Commission will act by July 1, 2025 instead of the original May 17, 2025 deadline. This means investors and the exchange must wait longer for a final approval or disapproval.
Proposed listing of Osprey Bitcoin Trust shares
Cboe BZX filed a proposed rule change (filed March 14, 2025; amended March 25, 2025) to list and trade shares of the Osprey Bitcoin Trust under BZX Rule 14.11(e)(4) as commodity-based trust shares; that proposal was published for comment on April 2, 2025. If the Commission approves the proposal by July 1, 2025, the Exchange would be able to list and trade those Bitcoin-trust shares.
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