The Securities and Exchange Commission (SEC) is working with US exchanges on a generic listing framework for token-based exchange-traded funds (ETFs) that could eliminate the need for issuers to file individual rule-change requests, Fox News’ Eleanor Terret reported on July 1.

According to the report, the initiative would enable an ETF sponsor to bypass the customary Form 19b-4 process when the underlying token meets predetermined criteria. 

The sponsor would instead submit a registration statement on Form S-1, observe the standard 75-day review period, and list the product once the waiting period ends. 

People familiar with the talks said that market capitalization, on-exchange trading volume, and daily liquidity are among the…