CBOE Seeks SEC Approval for Unified Framework to Accelerate Crypto ETF Listings

Highlights:

• CBOE is seeking approval to use one rule for all crypto ETFs to cut delays.
• New rules may help XRP and Solana ETFs avoid long wait times and meet standard listing requirements.
• The new rule may trigger more activity in the crypto ETFs market as regulations continue to take shape.

The Chicago Board Options Exchange has submitted a proposal to the SEC to revise how crypto ETFs are listed. The exchange wants to use a single framework that removes the need for separate filings for every crypto ETF. At present, exchanges still need to file a 19b-4 application separately for each fund, leading to delays of up to 240 days. With the new model, crypto ETFs satisfying certain criteria would not be required to obtain approval on a case-by-case basis.

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Nate Geraci, a renowned ETF analyst, posted the update about the filing on X. According to him, the new rule might enable issuers to avoid drawn-out delays and go live faster. A similar request has been placed by NYSE Arca as well, further demonstrating support for the streamlined ETF processes.

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

The initiative targets commodity-based trust shares, such as spot Bitcoin and Ethereum ETFs. If the SEC approves the rule, it will simplify ETF launches under preset conditions, such as liquidity and market standards. James Seyffart, a Bloomberg analyst, called the filing a step toward much-needed clarity in the crypto sector. He believes the proposed structure may become the industry standard once adopted.

White House and SEC Indicate Shifting Regulatory Tone

The SEC has recently allowed the creation of in-kind and redemptions of crypto ETFs. The action enables the redemption of the underlying asset instead of cash. On the same day, the White House released a policy document on digital assets. President Trump’s Working Group on Digital Assets developed the 168-page report. The report urges regulators to remove obstacles to innovation.

The President’s Working Group on Digital Asset Markets released a report that provides a roadmap to USHER IN THE GOLDEN AGE OF CRYPTO 🇺🇸

"Together, we will make the U.S. the crypto capital of the world!" 🌎 pic.twitter.com/YwE5KRrjnA

— The White House (@WhiteHouse) July 30, 2025

The document recommends clear rules for custody, trading, and registration. It also calls for an end to delays caused by unclear procedures. The group asked the SEC and the CFTC to work together on setting boundaries for digital finance. Lawmakers have also taken steps toward a new legal structure for digital assets. The GENIUS Act, now signed into law, outlines a framework for stablecoins. The CLARITY Act and the CBDC Anti-Surveillance State Act have already been approved by the House of Representatives and will proceed to the Senate.

These moves are part of the wider movement of incorporating cryptocurrencies into the current monetary structures. They also create the legal groundwork for faster and clearer crypto asset approval.

Crypto ETF Listings Could Accelerate XRP and Solana Approvals

The proposed rule could change how crypto ETF listings work across the market. If approved, the rule would allow issuers to avoid filing 19b-4 forms for each new product. Greg Xethalis, a fellow at Duke Law School, said Solana and XRP ETFs could meet the new listing standards. He noted that Solana ETFs expected in October may benefit if the SEC accepts the change. He also said XRP funds might qualify for in-kind creations, which would reduce launch delays.

Today is kind of a big day. CBOE just filed for Generic Listing Standards for Crypto Asset ETPs… NYSE and NASDAQ will likely follow suit shortly. Thread…

— Greg Xethalis (@xethalis) July 30, 2025

The proposed rule includes requirements for staking, contract duration, and liquidity. The ETF must hold at least 85% of redeemable assets. All these conditions are designed to offer investor protection and correct market operation.

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