SEC Eases Rules for Hybrid ETF-Mutual Fund Offerings Ahead
Published Date: 12/22/2025
Notice
Summary
The SEC is giving special permission to certain investment funds to offer both exchange-traded shares (ETFs) and regular mutual fund shares under one roof. This change helps these funds run smoother and gives investors more choices without extra costs. If you want to speak up, you have until January 12, 2026, to ask for a hearing before the new rules take effect.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Funds May Offer ETF and Mutual Classes
The SEC is considering orders that would let a registered open-end management investment company offer one class of exchange-traded shares (an ETF Class) and one or more classes of shares that are not exchange-traded (Mutual Fund Classes) within the same fund. Each order would provide (i) relief to permit standard ETF operations consistent with Rule 6c-11 and (ii) relief needed to offer an ETF Class alongside one or more Mutual Fund Classes. The SEC will issue such orders unless it receives a hearing request by 5:30 p.m. on January 12, 2026.
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