SEC Considers Establishing New Framework for Expedited ETF Approvals, Draft Could Be Released This Month

The U.S. Securities and Exchange Commission (SEC) is considering establishing a new framework to speed up the approval process, and a draft is expected to be released this month, with multiple spot crypto ETFs expected to be approved one after another. Previously, crypto reporter Eleanor Terrett revealed that the framework may allow exchanges to directly list eligible crypto ETFs based on uniform standards, without having to submit 19b-4 filings one by one and wait for a 75-day approval cycle. Bloomberg ETF analyst James Seyffart expects the new rule to be formally implemented as early as September or October, when more crypto asset ETFs are expected to usher in a wave of approval releases. (The Block) [Odaily Planet Daily]