SEC simplifies rules for crypto ETF listings

The U.S. Securities and Exchange Commission (SEC) approves important rule changes that significantly simplify the process of bringing cryptocurrency-based exchange-traded funds (ETFs) to market.

Major U.S. exchanges such as NYSE, Nasdaq, and Cboe will now be able to use standard procedures to list new crypto ETFs, including those holding spot assets, without a separate multi-stage approval process.

Until now, the launch of each spot ETF on digital assets required a lengthy individual review. The exchange and the management company had to file two separate documents: an application to amend their rules (19b-4) and a detailed registration statement with the SEC (S-1 or N-1A), detailing the product, its strategy, risks, and information about the issuer and service providers. Only after extensive review and case-by-case approval could the product enter the market.

Reviews often lasted more than six months, and in some cases decisions were postponed indefinitely depending on the regulatory climate.

Now, approvals will follow an expedited 75-day process without duplicate bureaucratic hurdles. The new rules open up opportunities not only for Bitcoin and Ethereum but also for other cryptocurrencies, such as Solana, XRP, and even Dogecoin.

Market participants view the reforms as historic for the industry. The first new products are expected to reach the market as early as October 2025. However, the SEC emphasizes that investor protection remains a priority, and ETF registration requirements will continue to be updated to address evolving risks.

The new SEC standards are expected to accelerate the growth of the cryptocurrency fund market in the United States, making it more transparent and accessible to institutional investors. It now remains to be seen when the pending framework for cryptocurrency ETPs will receive similar approval.