SEC Clears Path for Spot Crypto ETFs With New Listing Rules

The U.S. Securities and Exchange Commission (SEC) has taken a landmark step toward mainstream adoption of digital assets by approving generic listing standards for spot cryptocurrency and commodity exchange-traded products (ETPs). This SEC crypto ETFs approval, announced on Wednesday, allows national securities exchanges such as the NYSE, Nasdaq, and Cboe Global Markets to list new spot crypto ETFs without undergoing lengthy, case-by-case regulatory reviews.

Industry leaders have hailed the development as a “watershed moment” in U.S. digital asset regulation, ending more than a decade of regulatory uncertainty.

Faster Approval Process for Spot Crypto ETFs

Until now, the SEC required two separate filings for every new spot crypto ETF—one from the exchange seeking to list the product and another from the asset manager proposing it. Each filing underwent a lengthy and highly customized review by different SEC divisions, often dragging the process out to 240 days or more.

Under the new framework, asset managers can now launch spot ETFs in as little as 75 days, dramatically reducing time to market. The new rules establish clear criteria that issuers must meet, including compliance with exchange-level standards and oversight by relevant regulators.

Teddy Fusaro, president of Bitwise Asset Management, described the shift as historic:

“This is a watershed moment in America’s regulatory approach to digital assets, overturning more than a decade of precedent since the first bitcoin ETF filing in 2013.”

First ETFs Likely to Track Solana and XRP

With the SEC’s approval, analysts expect the first ETFs under the new rules to track tokens such as Solana (SOL) and XRP, both of which have pending applications filed over the past year.

So far, the only spot crypto ETFs approved in the U.S. track Bitcoin and Ethereum, both of which launched in January 2024 after years of delays and even a legal battle with regulators. The expansion into altcoins marks a major broadening of investor access to crypto through traditional financial markets.

Steve McClurg, CEO of Canary Capital, said the SEC’s decision removes the largest structural hurdle, but cautioned that work remains:

“The gates are open but there’s still a lot of work to be done. Marketing plans, legal filings, and coordination with service providers all have to be addressed, based on the new roadmap.”

Political Shift Drives Regulatory Change

The decision highlights a stark shift in U.S. regulatory posture between administrations. Under former President Joe Biden, the SEC moved cautiously and often resisted industry calls for spot crypto ETFs.

By contrast, the Trump administration has embraced digital assets, framing them as a driver of innovation and competitiveness.

This political alignment with the crypto community has fueled optimism among asset managers eager to expand their offerings.

Implications for Investors and Markets

For investors, the new rules mean broader access to crypto assets through familiar ETF structures. Instead of directly buying and storing tokens, retail and institutional players will be able to gain exposure through regulated, exchange-listed funds.

 Analysts expect strong demand for funds tracking high-capitalization tokens beyond Bitcoin and Ethereum, especially as adoption spreads globally.

Conclusion

The SEC’s approval of generic listing standards for spot crypto ETFs represents a turning point in U.S. digital asset regulation.

With the first products likely to track Solana and XRP, and more expected in the months ahead, the decision signals a new era in which digital assets move from the fringes of finance to the mainstream investment landscape.

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