The US Securities and Exchange Commission (SEC) has approved a new set of rules that could dramatically accelerate the launch of crypto-based exchange-traded products (ETPs). The decision allows exchanges to list products holding spot commodities, including digital assets, without requiring a lengthy, case-by-case review from the agency.
This move effectively bypasses the traditional 19(b) rule filing process, which can take up to 240 days. Under the new framework, exchanges like Nasdaq, NYSE, and CBOE can list new crypto ETPs as long as they meet a predetermined set of generic listing standards.
“By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets,” said SEC Chairman Paul Atkins. He emphasized that the decision aims to reduce barriers and provide a more streamlined pathway for digital asset products in U.S. markets.
The ruling has been met with significant optimism from the crypto industry, which sees it as a pivotal moment for a new wave of altcoin ETFs. While a spot Bitcoin ETF was approved earlier this year, this new framework could clear the way for products tied to a wider range of cryptocurrencies.
Bloomberg Intelligence ETF analyst James Seyffart commented on X, calling the new framework “the crypto ETP framework we’ve been waiting for.” He predicted a “wave of spot crypto ETP launches in coming weeks and months.”
This sentiment was echoed by Kristin Smith, president of the Solana Policy Institute, who said, “We are incredibly encouraged by tonight’s news. These new generic listing standards are a net-positive for U.S. investors, markets, and digital asset innovation. Excited for the next wave of crypto adoption!”
