According to The Block, Cboe BZX Exchange and NYSE Arca have submitted new rule proposals to the U.S. Securities and Exchange Commission (SEC), suggesting the establishment of common listing standards for crypto ETFs to speed up the approval process for related products. Currently, exchanges need to submit Form 19b-4, and the approval cycle can take up to 240 days. If the new proposal is approved, crypto ETFs that meet the standards will not need to apply separately, which is expected to significantly shorten the listing time. According to a Cboe spokesperson, the SEC could make a decision in as little as 21 days. NYSE Arca has also submitted a similar rule change application, aiming to improve market efficiency and promote competition. [Foresight News]

Cboe BZX and NYSE Arca Propose to SEC Streamlined Approval Process for Listing Crypto ETFs