Cboe and NYSE Arca are moving to simplify the listing of cryptocurrency exchange-traded funds by requesting a change to the rules of the U.S. Securities and Exchange Commission (SEC), eliminating the need for individual approval for each new fund.$ETH
The Chicago Board Options Exchange (CBOE) submitted a request to the SEC asking to allow cryptocurrency fund issuers to list their products under a unified framework, aiming to expedite the launch of cryptocurrency exchange-traded funds (ETFs) without the need for separate approvals. In this context, the New York Stock Exchange Arca also submitted a similar request, in a move expected to reduce the complexities of the current regulatory process that requires filing a 19b-4 form for each new fund.
Financial analyst Nate Geraci noted that this proposed change could make the approval process for cryptocurrency exchange-traded funds smoother, as issuers would not have to seek separate approval for each fund as long as it meets the specified criteria.$BTC
These developments came just one day after the SEC approved mechanisms for the creation and redemption of cryptocurrency exchange-traded fund samples, enhancing the likelihood of convergence between the digital asset class and traditional investment fund frameworks.
In a related context, the White House unveiled new proposals aimed at aligning cryptocurrency regulations with those of traditional finance, as the Digital Assets Task Force under President Donald Trump issued a policy document calling for clear guidelines and reducing regulatory constraints on innovation in blockchain technology, with the goal of accelerating the launch of crypto products for consumers.#FOMCMeeting The recommendations include calls for the SEC and the Commodity Futures Trading Commission (CFTC) to clarify federal rules regarding the custody, trading, and registration of cryptocurrencies, emphasizing the removal of "bureaucratic delays" that hinder the launch of innovative financial products.$XRP
Trump recently signed the GENIUS Act into law, paving the way for a broader regulatory framework for stablecoins, while the House of Representatives passed the CLARITY and CBDC Acts to combat the surveillance of central bank digital currencies, with the Senate set to discuss both bills after lawmakers return from their August recess. #EthereumTurns10 #ETHCorporateReserves #BinanceHODLerTree #BNBATH
