Cboe BZX and NYSE Arca Propose to Develop New SEC Listing Standards to Simplify Cryptocurrency ETF Approval

According to a report by Golden Finance, Cboe BZX Exchange and NYSE Arca submitted a proposal to the US Securities and Exchange Commission (SEC) on July 30th, proposing the establishment of universal listing standards for cryptocurrency ETFs with the aim of simplifying the approval process. The current regulations require each ETF to submit a separate 19b-4 form and undergo a maximum of 240 days of review. If the new standards are approved, eligible crypto ETFs will no longer need to apply on a case by case basis, significantly saving time and costs. Cboe stated that in the future, quantitative listing standards such as the size of encrypted assets will be added. This measure comes at a time when the crypto regulatory environment has become more relaxed since the Trump administration took office, and the SEC has recently approved physical redemption mechanisms for Bitcoin and Ethereum ETFs, as well as increased option limits for Bitcoin ETFs.