Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade Units of the Sprott Physical Copper Trust
Published Date: 2/2/2026
Notice
Summary
NYSE Arca got the green light to list and trade units of the Sprott Physical Copper Trust, letting investors buy shares backed by real copper. This change means folks can now invest in physical copper through the stock market starting soon, making it easier and more flexible to add copper to their portfolios. The approval came quickly after some tweaks, signaling a smooth and speedy launch ahead.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 2 costs, 1 mixed.
U.S. Listing of Physical Copper Shares
The SEC approved NYSE Arca to list and trade units of the Sprott Physical Copper Trust (order dated January 28, 2026). The Trust's units will trade on NYSE Arca once the Trust's Form 40-F registration statement is effective, allowing investors to buy shares backed by physical copper on a U.S. exchange.
Cash Redemption Pricing Formula
Cash redemptions will be paid at 95% of the lesser of (i) the volume-weighted average trading price (VWAP) of the Units on NYSE Arca (or TSX if NYSE Arca trading is suspended) for the last five Business Days ending on the Redemption Date, or (ii) the Net Asset Value (NAV) per Unit as of 4:00 p.m. on the Redemption Date, less fees, costs and expenses. Cash redemption proceeds are generally transferred approximately 15 Business Days following the applicable Redemption Date.
Monthly Redemption Options Available
Unitholders may redeem Units on a monthly basis either for physical copper or for cash. Physical redemptions require requests received by 4:00 p.m., Eastern Time, on the 15th day of the calendar month (or next Business Day) and are subject to the Trust's terms.
Large Minimum for Physical Redemption
Units redeemed for physical copper must be in amounts at least equivalent to one Minimum Physical Redemption Lot, which the Trust defines as 100 metric tons of copper. Any fractional excess above multiples of 100 metric tons will be paid in copper or cash at 100% of NAV for that excess.
No Regular Cash Distributions; Daily NAV and IIV
The Trust does not anticipate making regular cash distributions to Unitholders. The Trust will calculate and report a daily Net Asset Value (NAV) and will provide an intraday indicative value (IIV) every 15 seconds during NYSE Arca Core Trading Session to show an updated per-Unit value.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile 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!
2026-16853, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List
The New York Stock Exchange is changing its price rules starting August 11, 2026. They’re tweaking the share amount needed to get free late D Orders at the market close and cleaning up some wording. This affects traders using these order types and could save or cost them money depending on their order size.
2026-16855, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Equity 4, Rule 3100 Regarding Trading Halts
Previous / Next Documents
Previous: 2026-01968, Certain Medical Imaging Devices; Notice of Institution of Investigation
The U.S. International Trade Commission is starting an investigation into certain medical imaging devices that might be breaking a U.S. patent owned by MolecuLight Inc. and MolecuLight Corp. This affects companies importing or selling these devices in the U.S. If the complaint is proven, some devices could be blocked from entering the market, which might shake up the industry soon.
Next: 2026-01970, Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposal To Amend the Short Term Option Series Program in Rule 19.5, Interpretation and Policy .05
MEMX is updating its rules to let traders buy and sell options that expire on Mondays and Wednesdays for certain stocks and ETFs. This change means more chances to trade short-term options, giving investors extra flexibility and faster opportunities. The new rule kicks in right away, so traders can start using these new expiration days without delay.