Lucía Peña
The U.S. Securities and Exchange Commission (SEC) has granted accelerated approval for new listing standards covering crypto exchange-traded funds (ETFs), creating a faster path for these products to reach public markets.
In a filing on Wednesday, the agency explained that it had found “good cause” to approve the standards ahead of the typical 30-day period, noting that the amendments clarified definitions and requirements for the proposed generic listing rules.
The approval applies to major U.S. exchanges, including Nasdaq, NYSE Arca, and Cboe BZX Exchange, which had previously requested a rule change. The adjustment permits the generic listing and trading of Commodity-Based Trust Shares under proposed Rule 14.11(e)(4), making it easier to list qualified crypto-related products.
SEC Chairman Paul Atkins highlighted that the decision would expand investor choice, foster innovation, and reduce barriers to accessing digital assets within regulated U.S. capital markets.
A Boost for Dozens of Pending Crypto ETFs
This move marks a pivotal development for the many crypto ETFs awaiting approval. Firms have been preparing products that track a wide range of tokens—from Solana (SOL) and XRP to Dogecoin (DOGE)—hoping to benefit from the SEC’s more favorable stance.
Previously, exchanges were required to file a 19b-4 form, which could extend the review process to as long as 240 days. Under the new standards, that timeline could shrink to just 75 days, with qualifying ETFs no longer needing to undergo the 19b-4 requirement.
Matt Hougan, Chief Investment Officer at Bitwise Asset Management, remarked that the rule changes could “blow the market wide open” for crypto ETFs.
Grayscale Fund Gains Approval
In addition, the SEC confirmed approval for the Grayscale Digital Large Cap Fund to be listed and traded. The fund, which was previously restricted to over-the-counter trading for accredited investors, consists primarily of Bitcoin (nearly 80%) and Ethereum (around 11%), with smaller allocations to Solana, Cardano, and XRP.
This marks a significant win for Grayscale, which had faced regulatory hurdles in its attempt to expand investor access.
