SEC Clears Path for ETF Share Class Trading

Washington, DC; March 17, 2026—Investment Company Institute (ICI) President and CEO Eric Pan issued the following statement after the Securities and Exchange Commission (SEC) granted the relief necessary to allow broker-dealers and other market participants to trade ETF shares of multi-class funds.

“ICI applauds the SEC for granting the final relief needed to allow funds to launch ETF share classes alongside mutual fund share classes. In response to an ICI request, the Divisions of Trading and Markets and Corporation Finance took the necessary steps today to allow broker-dealers and other market participants to trade shares of these multi-class funds. 

“This latest relief complements the relief that the Division of Investment Management provided individual funds last November to offer ETF share classes as part of mutual funds, something which Chairman Atkins cited as a priority for the agency. 

“ICI thanks Chairman Atkins and Directors Selway, Moloney, and Daly for their leadership and the SEC staff for their hard work. Funds will now be able to operate more efficiently while offering investors greater choice in how they invest. Millions of investors stand to benefit from this modernized regulatory framework.”