Cboe, NYSE Arca move to streamline crypto ETF listings with SEC rule change request

The Chicago Board Options Exchange (CBOE) has filed a rule change request with the US Securities and Exchange Commission (SEC) to allow crypto fund issuers to list products under a unified framework, potentially removing the need for individual approvals for each new fund.

The filing was highlighted by ETF analyst Nate Geraci, who noted that the proposed rule change could streamline the approval process for crypto exchange-traded funds (ETFs).

If the rule change passes, “issuers wouldn’t have to request specific approval for each crypto ETF as long as it meets certain criteria,” Geraci said.

Geraci said a similar filing was also submitted by the NYSE Arca

Source: Nate GeraciUnder current regulations, exchanges are required to file a 19b-4 form for each new crypto ETF offering, initiating a lengthy and often complex review process by the SEC.

The filings came one day after the SEC approved in-kind creations and redemptions for crypto ETFs, bringing the asset class closer in line with traditional fund structures.

Related: Former SEC official joins Veda as General Counsel amid DeFi expansion

Crypto moves closer to traditional finance frameworks

The rule change filings came on the same day the White House advanced new proposals to align cryptocurrency regulations with those of traditional finance.

US President Donald Trump’s Working Group on Digital Assets released a 168-page policy document calling for clearer trading guidelines and relaxed restrictions on blockchain innovation — moves intended to accelerate the availability of new crypto products for consumers.

Among the key recommendations were calls for the SEC and Commodity Futures Trading Commission (CFTC) to clarify federal rules on crypto custody, trading and registration. The report also urged regulators to eliminate “bureaucratic delays” that slow the rollout of innovative financial products.

Earlier this month, Trump signed the GENIUS Act into law, laying the foundation for a broader regulatory framework on stablecoins

The House of Representatives also passed the CLARITY Act and the CBDC Anti-Surveillance State Act, which focus on crypto market structure and impose restrictions on central bank digital currencies. Both bills are set to be considered by the Senate after lawmakers return from their August recess.

Related: Crypto Biz: Hive’s Nasdaq moment, Citadel’s tokenization warning and Trump’s Bitcoin bull

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