On Jun. 17, 2025, SEC published order in federal register; comments should be submitted on/before Jul. 8, 2025; rebuttals should be submitted by Jul. 22, 2025.
On Feb. 24, NYSE Arca proposed rule on commodity-based trust share.
NYSE Arca, NYSE Amer proposed rule on options on commodity-based trust shares.
Follows NYSE Arca 2024 proposal, and withdrawal of proposed rule, #197706.
Competitive as Nasdaq ISE submitted substantially identical rule change, #244383.
Regarding criteria for listing, trading options on exchange-traded fund shares (ETFs) to allow options on units that represent interests in trust that is commodity-based trust.
Securities deemed appropriate for options trading include shares, NMS stock securities.
That represent interests in a security issued by trust that holds a specified commodity deposited with the trust, or specified commodity and in addition to commodity, cash.
Also represents interests issued by such trust in a specified aggregate minimum number in return for a deposit of a quantity of the underlying commodity and/or cash.
When aggregated in same specified minimum number, may redeem at holder’s request by trust which will deliver to redeeming holder quantity of underlying commodity, cash.
Also removed references to ETFS Platinum, iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Grayscale Bitcoin Trust, which are all commodity-based trust shares.
Consultation
Comments on the proposal are due 21 days from publication in the federal register.
Mar. 10, 2025 SEC Amer Proposal
On Mar. 10, 2025, SEC published NYSE Amer proposal, for 21-day comment period.
Mar. 14, 2025 Fed Reg Amer Proposal
On Mar. 14, 2025, SEC published Amer proposal in federal register, comments Apr. 4.
Mar. 17, 2025 Fed Reg Arca Proposal
On Mar. 17, 2025, SEC published Arca proposal in federal register, comments Apr. 7.
Apr. 2025 SEC Longer Period
On Apr. 25, 2025, SEC designated a longer period to take action to either approve or disapprove the NYSE Amer and NYSE Arca rule filings, postponed until Jun. 12, 2025.
May 2025 Fed Reg Longer Period
On May 1, 2025, SEC published NYSE Amer, NYSE Arca extension in federal register.
Jun. 12, 2025 SEC Proceedings
On Jun. 12, 2025, SEC instituted proceedings on whether to approve or disapprove.
Comments due in 21 days from pending federal register publication; rebuttals 35 days.
Jun. 17, 2025 Fed Reg Proceedings
On Jun. 17, 2025, SEC published order in federal register; comments should be submitted on/before Jul. 8, 2025; rebuttals should be submitted by Jul. 22, 2025.
