the only thing the sec is consideing is the exchange rule change.
that's totally separate to approving the actual etf. that might be several years or never even if the rule change goes through.
that's totally separate to approving the actual etf. that might be several years or never even if the rule change goes through.
But the rule change basically opens the door for the ETF in such a way that they don't have to go through the several years long process. It essentially lets them piggyback on other structures by changing the rule to include cryptocurrency.
This is my understanding too. The rule change green lights the ETF as an exchange-traded note. They don't need any other form of approval from the SEC to get listed.
From what I read on r/Bitcoinmarketa they still need approval