The U.S. Securities and Exchange Commission (SEC) may eliminate the 19b-4 rule-change requirement for cryptocurrency exchange-traded funds (ETFs), potentially reducing Bitcoin ETF approval times to approximately 75 days. This strategic shift aims to streamline market entry for token-based investment products.
The current SEC approval process includes the 19b-4 rule-change procedure, which extends review timelines by approximately 90 days. Under the proposed framework, the SEC would prioritize S-1 registration filings, significantly shortening the waiting period.
SEC officials are collaborating with major exchanges to establish token eligibility standards for this expedited approval track. The new mechanism particularly advantages issuers of established digital assets by minimizing procedural ambiguities.
This initiative seeks to enhance market efficiency through broader investment product availability. The SEC anticipates that faster approvals will benefit investors while supporting innovation in digital asset markets.