The Chicago Board Options Exchange (CBOE) is making a significant move to accelerate the approval process for crypto ETFs in the United States. CBOE has formally requested the U.S. Securities and Exchange Commission (SEC) to implement a new rule that would allow for fast-tracked, standardized listings of digital asset ETFs, potentially eliminating the current months-long waiting periods.
CBOE's proposal, a 19b-4 filing, introduces a "generic listing framework" that would enable ETFs linked to commodities—such as spot Bitcoin or Solana—to launch without undergoing individual reviews for each fund. This framework aims to establish a uniform approval process for issuers, provided their funds meet specific criteria related to asset type, liquidity, and redemption structure.
Analysts, including Bloomberg's James Seyffart, suggest this proposal could fundamentally reshape the ETF landscape, positioning crypto funds on par with traditional commodity trusts. If approved, CBOE, already a significant player in crypto-related ETFs, could gain a substantial advantage over competitors like Nasdaq and NYSE.
The SEC typically has up to 240 days to render a decision on such filings. However, recent reports indicate the agency is also exploring internal reforms to reduce listing times to as little as 75 days through simplified S-1 filings, signaling a broader willingness to streamline the process.
Under CBOE's proposed framework, eligible assets must have been traded on a designated contract market for at least six months. The amendment also addresses staking mechanisms for assets that support them and introduces liquidity safeguards for funds where less than 85% of assets are available for on-demand redemption.
Legal experts view this as a progressive step. Greg Xethalis of Duke Law noted that if approved, anticipated Solana ETFs (expected in October) would likely qualify under this new system. He also predicted that XRP funds could potentially launch in Q4 with in-kind redemption features, a structure the SEC has recently approved for both Bitcoin and Ethereum ETFs. Attorney Bill Morgan believes this evolving regulatory stance could accelerate the approval pathways for a wider range of altcoin-based ETFs in the near future, indicating a significant shift in the SEC's approach to tokenized financial products.
July 2025, Cryptoniteuae