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2025-07-31 17:38:03
[Major Changes to Crypto ETF Listing Regulations: Could the CBOE Proposal Disrupt the Industry?] ⑴ The Chicago Board Options Exchange (CBOE) submitted a new proposal on July 31st (Beijing time) aimed at streamlining the listing process for cryptocurrency ETFs. ⑵ The proposal suggests that cryptocurrency ETFs that meet certain standardized requirements could bypass case-by-case approval by the U.S. Securities and Exchange Commission (SEC) and automatically list. ⑶ The core of the proposal is that if a crypto asset has been traded in futures trading on a regulated market for at least six months, the relevant ETF will be eligible for listing. ⑷ This move is expected to significantly shorten the approval cycle for crypto ETFs and accelerate their entry into mainstream financial markets. ⑸ In addition, the proposal sets clear requirements for collateralized ETFs, requiring them to develop detailed liquidity risk management plans when more than 15% of the ETF's assets cannot be immediately redeemed. ⑹ This regulation aims to mitigate potential market liquidity risks and ensure the safety of investor assets. ⑺ If approved by the SEC, this CBOE proposal will have a profound impact on the cryptocurrency ETF market and may attract more institutional investors to the sector. ⑻ This not only reflects the growing recognition of crypto assets by traditional financial institutions, but also indicates that the regulatory framework of the crypto market is gradually maturing and improving.
