Cboe BZX and NYSE Arca propose to SEC to simplify the listing approval process for crypto ETFs

According to Foresight News, according to The Block, Cboe BZX Exchange and NYSE Arca have submitted new regulations to the U.S. Securities and Exchange Commission (SEC), suggesting the establishment of a common crypto ETF listing standard to speed up the listing approval process of related products. Currently, the transaction requires submitting Form 19b-4, with a maximum approval period of 240 days. If the new proposal is approved, standards-compliant crypto ETFs will not require separate applications, which is expected to significantly shorten the time to market. According to a Cboe spokesperson, it is possible for the SEC to make a decision in as early as 21 days. NYSE Arca also submitted similar application for rule changes, aiming to improve market efficiency and promote competition.
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