TLDR
- Cboe Pushes Rule to Fast-Track Bitcoin, Ethereum ETFs Without SEC Delays
- New Cboe Proposal Could Simplify Listing of Crypto ETFs Like BTC and ETH
- Streamlined Rule May Open Doors for Bitcoin, Ethereum, and Future Crypto ETFs
- Cboe Eyes Faster Crypto ETF Listings With Bold SEC Rule Change Proposal
- Ethereum and Bitcoin ETFs May Soon Skip SEC Red Tape Under New Cboe Plan
Cboe BZX Exchange has proposed a rule change that could reshape the path for listing crypto ETFs. This move aims to bypass lengthy SEC approval for each individual fund. The proposal seeks to modernize the listing of commodity-based trust shares, including spot Bitcoin and Ethereum ETFs.
Streamlined Listing Framework Targets Bitcoin ETFs
Cboe filed a 19b-4 form with the SEC requesting a rule change to enable generic listing standards for commodity-based trust shares. Under the current structure, each crypto ETF must undergo a separate and prolonged approval process. The proposed framework would instead allow automatic listing for qualifying ETFs without requiring individual approvals.
Cboe just filed 19b-4 requesting a rule change which would allow crypto ETFs to list & trade under a standard framework…
In other words, issuers wouldn’t have to request specific approval for each crypto ETF as long as it meets certain criteria. pic.twitter.com/BXC2fSZGxB
— Nate Geraci (@NateGeraci) July 30, 2025
This approach mirrors existing standards already in place for many equity and fixed-income ETFs. It introduces a consistent structure with clear criteria such as regulated custodians, transparent pricing, and daily disclosures. By standardizing the process, Cboe intends to eliminate politicized delays and reduce regulatory bottlenecks.
If adopted, this could significantly speed up access to Bitcoin ETFs on public markets. The proposal also includes delisting protocols, trading halt rules, and surveillance procedures to ensure regulatory compliance. These changes could lay the groundwork for broader digital asset inclusion.
Ethereum ETFs Poised for Easier Access
Ethereum-based ETFs would also benefit from the same framework if the rule change proceeds. Products meeting the outlined criteria—such as liquidity, security, and transparency—could be listed without SEC’s extended review. This eliminates the current need for individual rule changes for each Ethereum ETF.
The rule proposal does not yet specify a quantitative threshold for cryptocurrencies like Ethereum. However, Cboe confirmed it plans to introduce such metrics in a follow-up amendment after the framework is adopted. This incremental approach allows flexibility while maintaining oversight.
Increased clarity and predictability could encourage more firms to pursue Ethereum ETF listings. This structure would align Ethereum products with traditional asset management standards. Consequently, it could elevate Ethereum’s presence in mainstream financial markets.
Broader Digital Asset Products May Follow
The proposal’s language is broad enough to include future ETFs tied to assets like SOL, XRP, and DOGE. These funds must meet technical, operational, and regulatory standards outlined in the proposed Rule 14.11(e)(4). This move reflects growing momentum to integrate digital assets into established financial systems.
The SEC has reportedly started early discussions with exchanges about this framework. It is also exploring ways to let qualifying ETFs bypass the standard 19b-4 filing. This coordination signals a possible shift in regulatory posture toward digital asset products.
The earliest possible decision could arrive within 21 days, while the latest would be within 240 days. This timeline aligns with standard SEC review processes. Final approval would enable faster, standardized listings across a range of crypto-based ETFs.
