Source: [https://beincrypto.com/nasdaq-crypto-etf-rule-change/](https://beincrypto.com/nasdaq-crypto-etf-rule-change/)
Nasdaq recently filed a rule change to officially expand its Exchange-Traded Product definition to include Class ETF Shares, creating a hybrid structure that effectively blends traditional mutual funds with ETF mechanisms.
This specific amendment will allow issuers of these products to utilize Nasdaq's optional Initial ETP Open process on their very first day of trading. By allowing issuers to delay a security's opening from the 4:00 a.m. pre-market hours until regular market hours at 9:30 a.m., the exchange is setting up a process for significantly better price discovery and a more orderly initial launch.
Roughly 48 firms, including heavyweights like BlackRock, Fidelity, and JPMorgan, have already secured SEC approval for this dual-class ETF structure. This structural change points to a massive upcoming pipeline of dual-class funds, though broader operational infrastructure, such as DTCC automated processing and full custodian buildouts, is still catching up to the regulatory progress.