The financial services company USA-FUNDS has submitted an application to the Securities and Exchange Commission (SEC) seeking approval for a new share class of mutual funds that would operate as an exchange-traded fund (ETF). This new share class, known as USA-FUNDS-SHARECLASS:Cboe, aims to provide investors with a more flexible and efficient way to access the benefits of mutual funds.
The proposed ETF share class would be managed by USA-FUNDS and would be listed on the Cboe BZX Exchange. By offering this new share class, USA-FUNDS hopes to attract a wider range of investors who may prefer the liquidity and trading flexibility associated with ETFs.
