Cboe and NYSE Propose Cryptocurrency ETF Listing Standards to the SEC

On the 30th, Cboe's BZX Exchange and NYSE Arca proposed comprehensive listing standards for cryptocurrency exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC). Under the current system, each security requires the submission of a Form 19b-4, which can take up to 240 days for review. However, under the new standards, ETFs that meet certain criteria could be listed without individual approvals. If the SEC approves the proposed comprehensive standards, cryptocurrency ETFs that meet these criteria could be listed and traded without the need for a Form 19b-4. A spokesperson for Cboe expressed optimism, stating, 'The significant reduction in the review period will create a more efficient process for market participants.'