The U.S. Securities and Exchange Commission (SEC) has approved new, accelerated listing standards for crypto exchange-traded funds (ETFs), significantly speeding up their path to public markets. Citing “good cause” and clarified definitions in the proposals, the SEC bypassed the usual 30-day waiting period.
This expedited approval, requested by major exchanges like Nasdaq, NYSE Arca, and Cboe BZX, amends existing rules to allow for the generic listing and trading of Commodity-Based Trust Shares under a new framework.
SEC Chairman Paul Atkins lauded the decision as a move to expand investor choice and foster innovation by streamlining the listing process for digital asset products.
This development is crucial for dozens of pending crypto ETF applications, including those for Solana, XRP, and Dogecoin, as it marks a more supportive regulatory stance. Previously, each crypto ETF required a 19b-4 form and a review period of up to 240 days; now, qualifying products can be listed in as little as 75 days without that requirement.
Matt Hougan of Bitwise believes this “could blow the market wide open.” In a separate but related move, the SEC also approved the listing and trading of the Grayscale Digital Large Cap Fund, which holds a diversified portfolio including Bitcoin, Ethereum, Solana, Cardano, and XRP, and had previously been blocked from converting into an ETF.
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