The U.S. Securities and Exchange Commission (SEC) is reportedly developing a generic listing standard for token-based exchange-traded funds (ETFs) in collaboration with exchanges. This initiative aims to simplify the listing process by allowing issuers to bypass the traditional 19b-4 process, instead filing an S-1 and waiting 75 days for listing approval. The proposed standards, which remain undefined, may include criteria such as market capitalization, trading volume, and liquidity. The SEC has not commented on these developments.