The exchange has petitioned the Securities and Exchange Commission to approve a broad multi-share class structure.
Cboe Global Markets has asked the Securities and Exchange Commission (SEC) to approve a rule change that would allow issuers to combine exchange-traded funds (ETFs) and mutual funds.
According to a Reuters report on April 4, Cboe submitted a 19b-4 form requesting the green light to add an ETF share class to existing mutual funds, allowing for a multi-share class fund structure. If approved, the rule would allow issuers to combine and offer similar mutual funds and ETFs within a single investment vehicle.
Todd Sohn, an ETF analyst at Strategas LLC, told Reuters that “both the number of ETFs and ETF assets could soar” if the SEC approves Cboe’s request.
