• The US SEC approved generic listing standards for spot commodity-based ETFs, including crypto.
• ETF issuers can submit products directly if the underlying assets meet new standards.
• Analysts call the move a breakthrough for clear rules and safe investor access.
The US Securities and Exchange Commission (SEC) has cleared new listing standards that make it easier for exchanges to list crypto-backed exchange-traded funds (ETFs). The decision is being hailed as a major step toward expanding investor access and strengthening America’s role in financial innovation.
SEC Eases Path for Crypto ETFs
The US Securities and Exchange Commission has taken a major step toward expanding digital asset investment products by approving new generic listing standards on Wednesday. The approval grants major exchanges, including Nasdaq, NYSE, and Cboe, permission to list spot commodity-based ETFs that meet the listing standard, including cryptocurrency products. This removes the need for the SEC to approve individual applications from potential issuers.
The decision removes one of the largest obstacles facing issuers of spot crypto products. Regulators previously required a 19(b) filing process, which often took up to 240 days to decide whether to approve or reject each proposal. The new rules suggest that issuers can list their products once the underlying asset meets the listing criteria, lowering the approval timeframe to around 75 days.
Expanding Market Access
Industry participants have described this shift as a significant moment for digital assets, since it overturns more than a decade of precedent that has been in place since the first Bitcoin ETF application was filed in 2013.
Alongside the rule change, the SEC approved the Grayscale Digital Large Cap Fund, which tracks the CoinDesk 5 Index of Bitcoin, Ethereum, XRP, Solana, and Cardano. Regulators also cleared options linked to the Cboe Bitcoin US ETF Index and its mini version, expanding the range of crypto-related products available on regulated US markets.
The move’s impact could be evident within weeks, as the first ETFs under the new framework are expected to focus on Solana and XRP, with rollouts set to begin in October.
Analysts also claim the change could spark a broader wave of altcoin ETFs beyond Bitcoin and Ethereum, opening the door to mainstream adoption of a wider range of digital assets.
Industry Reactions and Next Steps
Reactions across the industry have been positive. Analysts such as Matt Hougan of Bitwise and James Seyffart of Bloomberg hailed the approval as a breakthrough that sets clear rules, encourages innovation, and expands safe access for investors.
SEC Chair Paul Atkins also emphasized that the move was designed to reduce barriers and ensure that digital assets can be accessed in regulated markets. He added that the agency is working to make the US a leading destination for financial innovation in crypto.
Although the approval marks a turning point, industry leaders note that work remains. Companies will still need to complete legal processes, finalize marketing strategies, and coordinate with service providers before new products reach investors.
