The US Securities and Exchange Commission is poised to accelerate crypto ETF approvals by potentially eliminating the 19b-4 rule-change process, enabling listings within 75 days.
This streamlined approach focuses on S-1 filings alone, aiming to simplify the launch of token-based ETFs backed by mature digital assets with robust liquidity and market activity.
According to COINOTAG, the SEC is collaborating with exchanges to establish clear token eligibility standards, which could prioritize projects meeting stringent financial and trading criteria.
SEC’s proposed crypto ETF framework could cut approval times to 75 days, simplifying listings and benefiting established tokens with strong market liquidity.
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The SEC’s current approval process for crypto ETFs involves a dual-track system that includes the lengthy 19b-4 rule-change procedure, which alone adds approximately 90 days to the timeline. By shifting the approval mechanism to rely solely on the S-1 registration statement, the agency aims to streamline the process without compromising disclosure standards. This change is expected to reduce the typical multi-month wait to just 75 days, allowing issuers to bring token-based ETFs to market more swiftly and efficiently.
In tandem with this procedural overhaul, the SEC is working closely with major exchanges to develop a standardized framework that tokens must satisfy to qualify for the expedited approval track. While specific benchmarks remain confidential, it is anticipated that metrics such as market capitalization, average daily trading volume, and liquidity thresholds will form the core of these eligibility requirements. This initiative aims to ensure that only tokens with established market credibility benefit from the accelerated listing process.
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Source: https://en.coinotag.com/sec-may-consider-faster-approval-process-for-bitcoin-etfs-by-removing-19b-4-rule/