Cboe seeks SEC approval to mix mutual funds with ETFs
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.
...