SEC Pressure on ETFs Grows! Two of the Largest US Exchanges File Applications to Expedite Altcoin ETF Approvals! Details Here…

After Bitcoin and Ethereum ETFs were approved in the US, the ETF process has begun for many altcoins such as XRP and Solana (SOL). While the SEC has not yet approved any altcoin ETFs other than Ethereum, two major US exchanges have applied to the SEC for simplified regulations for crypto ETF listings. Accordingly, the securities exchange Cboe BZX Exchange, along with NYSE Arca, filed a rule change with the SEC to ensure faster processing of cryptocurrency ETF listings, requesting changes for ETFs to speed up the transaction process. Exchanges have proposed allowing ETF issuers to list their products under a single framework, without having to apply for approval separately for each new cryptocurrency ETF. If approved, this could eliminate the need for separate approvals for each new fund and simplify the approval process. Experts said the proposal from Cboe and NYSE would eliminate the existing review process for exchange rule change applications for ETFs (19b-4) and allow ETFs that meet certain requirements to be automatically listed and traded without additional approval procedures. Under current regulations, exchanges must file Form 19b-4 for each new crypto ETF offering, leading to a lengthy and complex review process of up to 240 days. However, the proposed new framework could shorten this timeframe and simplify the process. Nate Geraci, president of ETF Store, said: “Cboe has filed a 19b-4 requesting a rule change that would allow crypto ETFs to be listed and traded under a standard framework. In other words, issuers would not need to seek special approval for each crypto ETF, as long as it meets certain criteria.” *This is not investment advice. Continue Reading: SEC Pressure on ETFs Grows! Two of the Largest US Exchanges File Applications to Expedite Altcoin ETF Approvals! Details Here…