SEC Fast-Tracks Crypto ETF Listings with New Exchange Standards

The U.S. Securities and Exchange Commission (SEC) has approved new exchange listing standards that dramatically shorten the path for crypto ETFs to reach the market, clearing a major hurdle for dozens of funds awaiting approval.

• Shortens review timelines from up to 240 days to as little as 75 days.
• Nasdaq, NYSE Arca, and Cboe BZX pushed for the rule change to list Commodity-Based Trust Shares.
• Approval enables faster launches for ETFs tracking BTC, ETH, SOL, XRP, DOGE, and more.
• Grayscale Digital Large Cap Fund also gains approval after a prior pause.

In a landmark move for digital asset markets, the SEC approved on an “accelerated basis” new exchange listing standards that streamline the process for crypto exchange-traded funds (ETFs).

The agency stated it found “good cause” to greenlight the standards earlier than the typical 30-day waiting period after publication in the Federal Register. According to the SEC’s filing, the amended proposals clarify key definitions and requirements for the generic listing and trading of Commodity-Based Trust Shares under proposed Rule 14.11(e)(4).

The request for the rule change came from major exchanges Nasdaq, NYSE Arca, and Cboe BZX, aiming to simplify the listing of crypto-backed ETFs. SEC Chairman Paul Atkins highlighted the benefits: “This approval helps maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets.”

Previously, crypto ETF applications required a 19b-4 form and faced a lengthy review of up to 240 days. The new standards cut that to as little as 75 days and remove the 19b-4 requirement for eligible products, paving the way for a flood of new crypto ETFs.

The approval is a major breakthrough for firms looking to launch ETFs tracking a range of digital assets from Solana (SOL) and XRP to Dogecoin (DOGE), reflecting the SEC’s increasingly receptive stance toward crypto investment products.

In a note to clients, Bitwise CIO Matt Hougan said the change could “blow the market wide open,” signaling potentially massive growth for the crypto ETF sector.

The SEC also separately approved the Grayscale Digital Large Cap Fund, which is composed of nearly 80% Bitcoin and about 11% Ethereum, with smaller allocations to Solana, Cardano, and XRP. This fund, previously limited to accredited investors over the counter, now has the green light for broader trading.

Final Thought

By slashing review timelines and removing regulatory bottlenecks, the SEC has opened the door to rapid growth in U.S. crypto ETFs—an important step toward mainstream adoption of digital assets in traditional markets.