The Chicago Board Options Exchange (CBOE) has filed a proposal to the U.S. Securities and Exchange Commission (SEC) that could significantly reduce the time it takes to approve crypto ETFs.
The CBOE and Nasdaq have filed a 19b-4 rule change proposal with the SEC that would permit crypto ETFs to be listed under a generic framework that eliminates case-by-case approvals.
If approved, issuers won’t need to wait 180+ days for SEC approval. Instead, they can list spot Bitcoin ETFs and other similar products more easily if they meet standard requirements. Bloomberg ETF analyst James Seyffart called this move “a pretty big deal,” saying it could transform how digital asset ETFs launch in the U.S.
The SEC now has 240 days to decide on the proposal. This follows the SEC’s recent approval of in-kind redemptions for Bitcoin and Ethereum ETFs and a broader effort to reduce ETF listing time to just 75 days.
Global Market Impact
The filing was made in the U.S., but the impact could be global, especially as CBOE competes with exchanges like Nasdaq and NYSE in crypto ETF listings. The rule would require the ETF’s underlying asset to trade on a Designated Contract Market for at least six months.
According to legal experts like Greg Xethalis, Solana ETFs expected in October could qualify if the rule passes. Lawyer Bill Morgan says XRP ETFs may also launch soon under this model.
Regulatory Evolution Continues
The proposal represents the latest step in the SEC’s broader effort to create efficient regulatory frameworks for cryptocurrency investment products while maintaining investor protection standards.
If implemented, the 75-day listing timeline could position U.S. exchanges as more competitive venues for crypto ETF launches, potentially accelerating institutional adoption of digital asset investment products.
