Cboe and NYSE Arca proposed rule amendments to list crypto ETFs without undergoing the time-consuming 19b-4 approval process.
The SEC’s recent approval of in-kind redemptions shows growing regulatory support for treating crypto funds like traditional ETFs.
A coordinated push from Congress, the SEC, and the White House reflects increasing clarity for crypto regulation and ETF market access.
Cboe BZX Exchange and NYSE Arca have submitted proposals to the U.S. Securities and Exchange Commission that would allow cryptocurrency exchange-traded funds to list without requiring individual 19b-4 approvals. The proposed amendments aim to simplify the listing process by enabling qualified funds to launch under pre-approved conditions.
If the SEC accepts the filings, Cboe would amend Rule 14.11(e)(4), while NYSE Arca would revise Rule 8.201-E. These changes would allow funds holding assets such as Bitcoin, Ethereum, and other digital currencies to enter the market more efficiently. The rule adjustments would remove the need for a case-by-case review, a process that currently stretches up to 240 days.
Regulators show signs of supporting broader access
The SEC’s recent approval of in-kind redemptions for spot Bitcoin and Ethereum ETFs shows an ongoing shift toward treating crypto-based funds similarly to traditional financial products. These reforms could support quicker fund rollouts by reducing operational frictions.
https://twitter.com/NateGeraci/status/1950615761271009379
The proposed rule changes follow a broader push from U.S. regulatory bodies. A day prior to the filings, the White House released a 168-page policy framework urging agencies to adapt regulations for digital asset integration. The directive, formed under the Trump-era Working Group on Digital Assets, emphasizes efficient product rollouts and clearer standards around custody and registration.
New legislation signals momentum in crypto oversight
Action is being taken to ensure stability in the policy environment with numerous acts being legislated, like the GENIUS Act and the CLARITY Act both in Congress. All of this is in addition to these proposals and to updated SEC guidelines released in early July that show a trend toward making crypto an accepted, unwavering component of the financial system.
Analysts of ETFs have observed that, in case the SEC accepts the amendment of the rule, crypto ETFs in categories that satisfy its eligibility requirements would not experience delays anymore. This may lead to quicker access to funds by investors associated with the assets like Solana and XRP, in case of their fulfillment of the established standards upon publication.
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