Two U.S. exchanges, Cboe BZX and NYSE Arca, have proposed a rule change to the SEC aimed at speeding up the approval process for crypto exchange-traded funds (ETFs). The changes would allow certain crypto ETFs to be automatically listed without the need for individual case-by-case filings that typically involve extensive review. The exchanges argue this would align crypto ETF procedures with the existing rules for traditional assets, facilitating faster market entry for various crypto products, particularly those linked to assets like Solana and XRP. However, concerns have emerged regarding potential regulatory favoritism, suggesting that such a system may prioritize established cryptocurrencies like Bitcoin and Ethereum, possibly undermining opportunities for other digital assets. The SEC has up to 240 days to respond to the proposals, which could significantly influence the future landscape of crypto ETFs.

Source 🔗