ืžื•ืคืขืœ ืข"ื™
Regulation

ืžื•ืžื ื˜ื•ื ืงืจืŸ ื”ืกืœ ืฉืœ ืกื•ืœื ื” ื’ื•ื‘ืจ ื‘ืขืงื‘ื•ืช ื“ื™ื•ื•ื—ื™ื ืขืœ ืžืขื•ืจื‘ื•ืช ื”-SEC

ืžืืžืจ ื–ื” ืคื•ืจืกื ืœืคื ื™ ื™ื•ืชืจ ืžืฉื ื”. ื—ืœืง ืžื”ืžื™ื“ืข ืขืฉื•ื™ ืœื ืœื”ื™ื•ืช ืขื“ื›ื ื™.

ื”ืชืงื“ืžื•ืช ื”ืžื“ื•ื•ื—ืช ืฉืœ ื”-SEC ื‘ื ื•ื’ืข ืœื”ื’ืฉื•ืช ืงืจื ื•ืช ืกืœ ืกื•ืœื ื” ื•ืฉื™ื ื•ื™ื™ื ืืคืฉืจื™ื™ื ื‘ื”ื ื”ื’ื” ืขื•ืจืจื• ืื•ืคื˜ื™ืžื™ื•ืช, ื•ืžืฆื‘ื™ืขื™ื ืขืœ ืฉื™ื ื•ื™ ืืคืฉืจื™ ื‘ืชืงื ื•ืช ื”ื”ืฉืงืขื” ื‘ืžื˜ื‘ืขื•ืช ืงืจื™ืคื˜ื•ื’ืจืคื™ื™ื.

ื ื›ืชื‘ ืข"ื™
ืฉืชืฃ
ืžื•ืžื ื˜ื•ื ืงืจืŸ ื”ืกืœ ืฉืœ ืกื•ืœื ื” ื’ื•ื‘ืจ ื‘ืขืงื‘ื•ืช ื“ื™ื•ื•ื—ื™ื ืขืœ ืžืขื•ืจื‘ื•ืช ื”-SEC

ื”ื’ืฉื•ืช ืงืจื ื•ืช ืกืœ ืกื•ืœื ื” ืžืขื•ืจืจื•ืช ืชืงื•ื•ื” ื—ื“ืฉื”

ื“ื™ื•ื ื™ื ืœื’ื‘ื™ ืงืจืŸ ืกืœ (ETF) ืœื ื›ืกื™ ืกื•ืœื ื” (SOL) ืžืชื ื”ืœื™ื ื‘ื™ืŸ ืฆื•ื•ืช ื”-SEC ื‘ืžืฉืจื“ ืœื ื™ื™ืจื•ืช ืขืจืš ืฉืœ ืืจืฆื•ืช ื”ื‘ืจื™ืช ืœื‘ื™ืŸ ืžื ืคื™ืงื™ื ืคื•ื˜ื ืฆื™ืืœื™ื™ื, ื•ื”ื ืžื“ื•ื•ื—ื™ื ื›ืžืžืฉื™ื›ื™ื ืœื”ืชืงื“ื, ืขืœ ืคื™ ื”ืขื™ืชื•ื ืื™ืช ืžืืœื™ืื•ืจ ื˜ืจื˜ ืžืคื•ืงืก ื‘ื™ื–ื ืก. ืžืงื•ืจื•ืช ืžืฆื™ื™ื ื™ื ืฉื”-SEC ืขื•ืกืง ื‘ืื•ืคืŸ ืคืขื™ืœ ื‘ื”ื’ืฉื•ืช ื˜ื•ืคืกื™ S-1, ืžื” ืฉืžืฆื‘ื™ืข ืขืœ ื›ืš ืฉื”ื’ืฉื•ืช ื˜ื•ืคืกื™ 19b-4, ื”ื ื—ื•ืฆื•ืช ืœืจื™ืฉื•ื ื”ืงืจื ื•ืช, ืขืฉื•ื™ื•ืช ืœื”ื™ื•ืช ืžื•ื’ืฉื•ืช ื‘ืงืจื•ื‘ ืขืœ ื™ื“ื™ ื‘ื•ืจืกื•ืช ื”ืžื™ื™ืฆื’ื•ืช ืืช ื”ืžื ืคื™ืงื™ื. ื˜ื•ืคืกื™ 19b-4 ืžื”ื•ื•ื™ื ืฉืœื‘ ื—ืฉื•ื‘ ื‘ืชื”ืœื™ืš ืื™ืฉื•ืจ ื”-ETF, ื•ืžืืคืฉืจื™ื ืœ-SEC ืœื‘ื—ื•ืŸ ืจืฉืžื™ืช ื”ืื ื ื™ืชืŸ ืœืจืฉื•ื ืžื•ืฆืจื™ื ืืœื•.

ื—ื‘ืจื•ืช ื ื™ื”ื•ืœ ื ื›ืกื™ื ื›ืžื• Vaneck, 21shares ื•-Canary Funds ื›ื‘ืจ ื”ื’ื™ืฉื• ื˜ื•ืคืกื™ S-1 ืœืงืจืŸ ืกืœ ืกื•ืœื ื”, ื•ื‘ื™ื˜ื•ื•ื™ืก ื”ื•ื“ื™ืขื• ืขืœ ื›ื•ื•ื ืชื ืœื”ื’ื™ืฉ ื’ื ื›ืŸ. ื‘ื•ืจืกื•ืช ื›ืžื• ื”ื‘ื•ืจืกื” ืœืื•ืคืฆื™ื•ืช ืฉืœ ืฉื™ืงื’ื• (CBOE) ื™ื’ื™ืฉื• ืืช ื˜ื•ืคืกื™ ื”-19b-4 ื‘ืฉื ื”ืžื ืคื™ืงื™ื ื”ืœืœื•. ืขื ื”ื›ืจืช ื”-SEC ื‘ื˜ืคืกื™ื ืืœื•, ื™ืฉ ืœืกื•ื›ื ื•ืช 240 ื™ืžื™ื ืœืืฉืจ ืื• ืœื“ื—ื•ืช ืื•ืชื. ืขื ื–ืืช, ื˜ื•ืคืกื™ 19b-4 ืงื•ื“ืžื™ื ืž-Vaneck ื•-21shares ื‘ื•ื˜ืœื• ื‘ืื•ื’ื•ืกื˜, ื›ื›ืœ ื”ื ืจืื” ื‘ืฉืœ ืกืคืงื•ืช ืชื—ืช ื”ื ื”ื’ืช ื™ื•โ€ืจ ื”-SEC ื’ืืจื™ ื’ื ืกืœืจ.

ืžืขื•ืจื‘ื•ืช ืœืื—ืจื•ื ื” ืฉืœ ืฆื•ื•ืช ื”-SEC ื•ืฉื™ื ื•ื™ ืืคืฉืจื™ ื‘ืชืคื™ืกื” ื”ืจื’ื•ืœื˜ื•ืจื™ืช ืขื ืžืžืฉืœ ืคืจื•-ืงืจื™ืคื˜ื• ืฆืคื•ื™ ื”ื’ื‘ื™ืจื• ืื•ืคื˜ื™ืžื™ื•ืช ื‘ืงืจื‘ ืžื ืคื™ืงื™ื. ืจื‘ื™ื ืจื•ืื™ื ื›ืขืช ืกื™ื›ื•ื™ ืจื™ืืœื™ ืœืื™ืฉื•ืจ ืงืจืŸ ืกืœ ืกื•ืœื ื” ืขื“ 2025, ืžื” ืฉืžืฆื‘ื™ืข ืขืœ ืฉื™ื ื•ื™ ืคื•ื˜ื ืฆื™ืืœื™ ื‘ืขืžื“ืช ื”ืกื•ื›ื ื•ืช ื›ืœืคื™ ืžื•ืฆืจื™ ืžื˜ื‘ืขื•ืช ืงืจื™ืคื˜ื•ื’ืจืคื™ื™ื.

ื‘ื™ื ื•ืืจ, ื”-SEC ืื™ืฉืจ 11 ืงืจื ื•ืช ืกืœ ืœื ื›ืกื™ ื‘ื™ื˜ืงื•ื™ืŸ, ืฉืื•ืชืŸ ืจืื• ื›ืฆื™ื•ืŸ ื“ืจืš ืžืฉืžืขื•ืชื™ ืœื”ืฉืงืขื” ื‘ืžื˜ื‘ืขื•ืช ืงืจื™ืคื˜ื•ื’ืจืคื™ื™ื. ืื™ืฉื•ืจ ื–ื” ืœื•ื•ื” ื‘ืื•ืจ ื™ืจื•ืง ืžื”-SEC ืœืงืจื ื•ืช ืกืœ ืœืื™ืชโ€™ืจื™ื•ื ื‘ื™ื•ืœื™, ืชื•ืš ื”ืขืžืงืช ืฉื™ืœื•ื‘ ื”ื ื›ืกื™ื ื”ื“ื™ื’ื™ื˜ืœื™ื™ื ื‘ืžื™ืžื•ืŸ ื”ืžืจื›ื–ื™. ืœืื—ืจื•ื ื”, ืžื ื”ืœื™ ื ื›ืกื™ื ื›ืžื• Bitwise ื•-21shares ื”ื’ื™ืฉื• ื‘ืงืฉื” ืœืงืจื ื•ืช ืกืœ ืœื ื›ืกื™ XRP. ืขื ื–ืืช, ืขื™ืจื•ืจ ื”-SEC ื ื’ื“ ืคืกืง ื“ื™ืŸ ื‘ื™ืช ืžืฉืคื˜ ืž-2023 ืฉืงื‘ืข ืฉ-XRP ืื™ื ื• ื ื™ื™ืจ ืขืจืš ืžื•ืกื™ืฃ ืื™ ื•ื•ื“ืื•ืช ืœืกื™ื›ื•ื™ื™ ื”ืื™ืฉื•ืจ ืฉืœ ืงืจื ื•ืช ืกืœ XRP.

ื‘ื›ืœ ื–ืืช, ื”ืกืคืงื•ืœืฆื™ื” ื’ื•ื‘ืจืช ืฉื™ื•โ€ืจ ื”-SEC ื’ื ืกืœืจ ืขืฉื•ื™ ืœื”ืชืคื˜ืจ ืœืื—ืจ ื ื™ืฆื—ื•ื ื• ืฉืœ ื”ื ืฉื™ื ืฉื ื‘ื—ืจ ื“ื•ื ืœื“ ื˜ืจืืžืค, ืฉื›ืŸ ื˜ืจืืžืค ื”ื‘ื˜ื™ื— ืœื”ื—ืœื™ืฃ ืืช ื’ื ืกืœืจ ืขื ื›ื ื™ืกืชื• ืœืชืคืงื™ื“. ืฉื™ื ื•ื™ ื‘ื”ื ื”ื’ื” ืขืฉื•ื™ ืœืื•ืชืช ืขืœ ืžืขื‘ืจ ืœืžื“ื™ื ื™ื•ืช ื™ื•ืชืจ ื™ื“ื™ื“ื•ืชื™ืช ืœืงืจื™ืคื˜ื• ื‘-SEC, ืžื” ืฉื™ื›ื•ืœ ืœื”ืงืœ ืขืœ ื”ืœื—ืฆื™ื ื”ืจื’ื•ืœื˜ื•ืจื™ื™ื ืขืœ ืชืขืฉื™ื™ืช ื”ืžื˜ื‘ืขื•ืช ื”ืงืจื™ืคื˜ื•ื’ืจืคื™ื™ื.

ืชื’ื™ื•ืช ื‘ื›ืชื‘ื” ื–ื•