Cboe Global Markets has filed a 19b-4 proposal with the Securities and Exchange Commission (SEC) seeking approval for a significant change in the ETF market. The proposal aims to allow mutual funds to offer an ETF share class, a move that could potentially transform the landscape of investment options available to investors. This initiative has already attracted interest from eight issuers who have filed for this structure, highlighting the industry's support for the change. Cboe's filing is particularly noteworthy as it introduces a timeline for the SEC's decision, setting a 240-day period for the regulatory body to respond. Major financial institutions such as Morgan Stanley, Fidelity, and DFA have also filed similar requests, but without a specified timetable. Cboe's action marks it as a pioneer in seeking regulatory adjustments to enable multi-share class capabilities for funds, emphasizing the exchange's role in innovating the ETF space.