A new proposal from Cboe would allow certain crypto-backed funds to be listed automatically if they meet standardised requirements.
The proposal, filed on Wednesday, seeks to let funds qualify for listing if their underlying crypto assets have been trading as regulated futures for at least six months.
Solana will meet that threshold in mid-September, setting the stage for fund approvals by early October if the proposal is finalised in time. XRP would likely follow shortly after.
The filing also makes provisions for staking-enabled ETFs by requiring a liquidity risk management plan when more than 15% of a fund’s assets are not readily redeemable. This is a likely nod to assets like Solana and Cardano, where staking plays a big role in returns.
“This is the beginning of the crypto ETP fall,” wrote lawyer Greg Xethalis, who flagged the filing on X.
He noted that the SEC could approve pending Solana and XRP ETF applications under the new framework, or move independently ahead of the October 10 deadline.
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