Rule filings are not effective until approved by the Securities and Exchange Commission ("SEC"), with the exception of certain types of rule filings that may take effect upon filing with the SEC if they meet the conditions specified under Section 19 of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder. Below are pending rule filings submitted by the Exchange, followed by rule changes that have been approved by the SEC or became immediately effective pursuant to the Exchange Act.
The Exchange proposes to list and trade shares of the GraniteShares 4x Long Russell 1000 Daily ETF (“4x Long Fund”) and the GraniteShares 4x Short Russell 1000 Daily ETF (“4x Short Fund” together with the 4x Long Fund, the “Funds”), each a series of GraniteShares ETP Trust (the “Trust”), under Rule 14.11(f)(4) (“Trust Issued Receipts”).
The Exchange proposes to adopt Rule 14.11(n) to permit the generic listing and trading of Multi-Class Exchange-Traded Fund (“ETF”) Shares that comply with the requirements of Rule 6c-11 under the Investment Company Act of 1940 (the “Investment Company Act”) and are eligible to operate in reliance on exemptive relief from certain requirements of the Investment Company Act of 1940 and the rules and regulations thereunder that permit the trust issuing the Multi-Class ETF Shares to offer an exchange-traded fund class in addition to classes of shares that are not exchange-traded.
The Exchange proposes to amend Rule 14.10 to exempt closed-end management investment companies registered under the Investment Company Act of 1940 that are listed as of or after May 20, 2025 from the annual meeting of Shareholders requirement set forth in Exchange Rule 14.10(f).
The Exchange proposes to amend its Fee Schedule by introducing a new Step-Up Tier and eliminating the ETP and Closed-End Fund LMM Add Liquidity Rebate.
The Exchange proposes to amend Exchange Rule 11.10, Units of Trading, and Exchange Rule 14.1(a)(26), Definitions, to conform with the amendment to the definition of round lot under Rule 600 of Regulation NMS recently approved by the Commission.
The Exchange proposes to amend its Fees Schedule to adopt twelve new fee codes and three volume-based tier incentive programs in connection with the planned implementation of the Exchange’s new Complex order functionality.
The Exchange proposes to amend the Fidelity Wise Origin Bitcoin Fund, VanEck Bitcoin ETF, 21Shares Ethereum ETF, Fidelity Ethereum Fund, and the VanEck Ethereum ETF, (collectively, the “Funds”), shares (“ Fund Shares”) of which have been approved by the Commission to list and trade on the Exchange pursuant to BZX Rule 14.11(e)(4) under an approval order, to permit the Funds to list and trade under the generic listing standards of that rule effective October 1, 2025.
The Exchange proposes to amend Rule 11.26(a) regarding the public disclosure of the sources of data that the Exchange utilizes when performing: (i) order handling; (ii) order routing; (iii) order execution; and (iv) related compliance processes to reflect the planned operation of the 24X National Exchange LLC as a registered national securities exchange beginning on September 29, 2025.
The Exchange proposes to amend Rule 11.23 to introduce an option for an exchange-traded product (“ETP”) eligible to participate in an initial public offering (“IPO”) auction to elect to commence trading in the BZX Early Trading Session.
The Exchange proposes to amend Rule 11.23 to explicitly provide that the Exchange may extend the Quote-Only Period for an initial public offering (“IPO”) Auction where a Derivative Security fails to meet the Exchange’s listing qualification requirements as set forth in Exchange Rule 14.11.
The Exchange proposes to amend its Fee Schedule by revising the additive rebate associated with securities priced below $1.00 in LMM Add Volume Tiers 2 – 4.
The Exchange proposes to amend Rule 14.11(e)(4) to permit the generic listing and trading of Commodity-Based Trust Shares that meet the requirements set forth in proposed Rule 14.11(e)(4).
The Exchange proposes to amend its “Consolidated Audit Trail Funding Fees” fee schedule to establish fees for Industry Members related to reasonably budgeted CAT costs of the National Market System Plan Governing the Consolidated Audit Trail (the “CAT NMS Plan” or “Plan”) for the period from July 1, 2025 through December 31, 2025.
The Exchange proposes to amend Rule 11.26(a) regarding the public disclosure of the sources of data that the Exchange utilizes when performing: (i) order handling; (ii) order routing; (iii) order execution; and (iv) related compliance processes to reflect the name change of NYSE Chicago, Inc. to NYSE Texas, Inc. The Exchange also proposes to amend Rule 11.13(b)(3)(M) and Rule 11.13(b)(3)(N) to remove the list of primary listing markets shown in the rule text.
The Exchange proposes to update its Fee Schedule to provide a temporary 20% discount on fees assessed to Exchange Members and non-Members that purchase $20,000 or more of ad hoc purchases of historical Open-Close Data, effective April 23, 2025 through June 30, 2025.
The Exchange proposes to update its Fee Schedule to provide a discount on fees assessed to qualifying academic purchasers for purchases ad hoc historical U.S. Equity Short Volume and Trades Reports.
The Exchange proposes to amend the Fidelity Blue Chip Growth ETF, Fidelity Blue Chip Value ETF, Fidelity Magellan ETF, Fidelity Real Estate Investment ETF, and the Fidelity Fundamental Small-Mid Cap ETF, shares of which are listed and traded on the Exchange pursuant to BZX Rule 14.11(m), to operate a “Semi-Transparent Sleeve” and “Fully-Transparent Sleeve” and to expand the investible universe for the proposed Fully-Transparent Sleeve.
The Exchange proposes to amend its Rules to allow the Exchange to list and trade options on the Grayscale Ethereum Trust ETF, the Grayscale Ethereum Mini Trust ETF, and the Bitwise Ethereum ETF.
The Exchange proposes to amend the Franklin Bitcoin ETF, the Franklin Ethereum ETF, and the Franklin Crypto Index ETF, shares of which have been approved by the Commission to list and trade on the Exchange pursuant to BZX Rule 11.4(e)(4), to permit in-kind creation and redemptions.
The Exchange proposes to amend Rules 1.5, 11.1, and 14.11 to extend the Early Trading Session to 4:00 a.m., implement an earlier order acceptance time, and implement new start times.
The Exchange proposes to amend the Invesco Galaxy Bitcoin ETF and the Invesco Galaxy Ethereum ETF, shares of which have been approved by the Commission to list and trade on the Exchange pursuant to BZX Rule 11.4(e)(4), to permit in-kind creation and redemptions.
The Exchange proposes to amend the WisdomTree Bitcoin Fund, shares of which have been approved by the Commission to list and trade on the Exchange pursuant to BZX Rule 14.11(e)(4), to permit in-kind creation and redemptions.
The Exchange proposes to amend the VanEck Bitcoin Trust and the VanEck Ethereum Trust, shares of which have been approved by the Commission to list and trade on the Exchange pursuant to BZX Rule 11.4(e)(4), to permit in-kind creation and redemptions.
The Exchange proposes to amend its Fee Schedule by modifying footnote 14 to include fee code AN and make continuous book executions that occur in the Opening and Closing Auctions free for Lead Market Makers.
The Exchange proposes to amend the Fidelity Wise Origin Bitcoin Fund (the “Bitcoin Trust”) and the Fidelity Ethereum Fund (the “Eth Trust” and, collectively with the Bitcoin Trust, the “Trusts”).
The Exchange proposes to amend Rule 19.6 to harmonize the equity options listing rules of the Exchange in regard to the listing of options series with $1 strike prices with the equity options listing rules of its affiliated exchange, Cboe Exchange, Inc.
The Exchange proposes to amend Rule 21.15(b) (Exchange Data Products) to adopt Cboe Timestamping Service, which is a market data service comprised of two distinct market data reports.
