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Nazia Saeed
- Proposals aim to streamline crypto ETF listings and eliminate individual fund approvals
- The filing comes a day after the SEC approved in-kind creations and redemptions for crypto ETFs
- New filings coincide with broader US efforts to align crypto rules with traditional finance frameworks
The Chicago Board Options Exchange (Cboe) and NYSE Arca have filed requests with the US Securities and Exchange Commission (SEC) to implement a rule change that would allow crypto fund issuers to list products under a unified framework. This change could eliminate the need for individual approvals for each new crypto exchange-traded fund (ETF), which currently involves a time-consuming review process.
ETF analyst Nate Geraci highlighted that if the SEC approves the rule change, issuers would no longer need specific approval for each crypto ETF as long as it meets certain criteria. This filing could significantly streamline the approval process for new crypto ETFs, reducing delays and easing market entry for crypto-related financial products.
Cboe and NYSE Arca propose streamlined process for crypto ETF listings
This filing follows a day after the SEC approved in-kind creation and redemption mechanisms for crypto ETFs, which allows for more efficient handling of crypto assets. This move brings the asset class closer to aligning with traditional fund structures. The SEC’s approval of these in-kind transactions marks a key development in the ongoing effort to integrate crypto products with conventional financial systems.
In addition, the filings by Cboe and NYSE Arca come amid a broader push from the US government to streamline crypto regulations. The White House recently advanced new proposals aimed at aligning cryptocurrency rules with those of traditional finance. A report by President Donald Trump’s Working Group on Digital Assets called for clearer rules and relaxed restrictions, which would expedite the launch of innovative crypto products.
New regulatory momentum builds around crypto products
The proposed rule changes from Cboe and NYSE Arca reflect the growing trend toward making the crypto space more accessible to traditional financial players. As part of a broader regulatory shift, President Trump signed the GENIUS Act into law earlier this month, focusing on stablecoins and crypto market structure. The House of Representatives has also passed two other significant bills the CLARITY Act and the CBDC Anti-Surveillance State Act which aim to address market structure and curb potential issues with central bank digital currencies.
As lawmakers return from their August recess, these proposals and bills will likely shape the future of cryptocurrency regulations, and the filings from Cboe and NYSE Arca play a key part in this ongoing transformation.
