The U.S. Securities and Exchange Commission (SEC) has unveiled new exchange filings that establish "listing standards" for Exchange-Traded Products (ETPs) backed by cryptocurrencies. These new rules mark a significant shift, potentially accelerating the launch of a wide array of crypto ETPs by removing the need for individual SEC clearance for each product, provided they meet the outlined requirements.
Under the new framework, tokens that have been actively traded on Coinbase's derivatives market for more than six months will now qualify for a streamlined listing process. This initiative aims to create a unified set of rules for listing crypto funds, encompassing major assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, among others.
For instance, Solana ETPs, which are anticipated to receive approval by October 10, will fall under these new guidelines. The SEC has opened a comment period for these ETPs, likely to conclude 21 days after the rule's publication in the Federal Register, inviting suggestions to refine the regulatory system. Crypto experts are now projecting ETP launches for assets like Solana and XRP by Q4 2025, with several other altcoins potentially approved by September or October.
This significant regulatory development comes in response to requests from major exchanges like the Chicago Board Options Exchange (CBOE) and NYSE Arca, both of which filed similar proposals to simplify crypto ETF regulatory processes. The traditional method required exchanges to submit a complex 19b-4 form for each new crypto ETF, leading to lengthy and often complicated review processes. By adopting these generic listing standards, the SEC is taking bold steps to integrate crypto into the traditional financial system and boost adoption.
Further solidifying this integration, the SEC has also approved "in-kind creation and redemption" for crypto ETPs. This aligns them with standard commodity ETP practices, enabling smoother operations, reducing transaction costs, and allowing for the direct exchange of crypto assets for ETP shares. This change is expected to enhance efficiency and make these products more attractive to investors.
July 2025, Cryptoniteuae