The U.S. Securities and Exchange Commission (SEC) has approved changes to the listing rules for spot cryptocurrency ETFs, which will significantly speed up the emergence of new financial products on stock exchanges.
This is reported by Business • Media
What Changes is the SEC Implementing
Under the new rules, three leading national stock exchanges — NYSE, Nasdaq, and CBOE — are now allowed to apply unified listing standards for cryptocurrency ETFs. This eliminates the need for separate applications from the exchange and the management company, as was previously required, and frees asset managers from lengthy individual approvals with the regulator. From now on, the application review period has been reduced from 240 to 75 days, which, according to market participants, will be a defining milestone in the regulation of digital assets.
“This is a historic step that ends a decade-long practice since the first Bitcoin ETF application in 2013,” said Teddy Fusaro, president of Bitwise Asset Management.
Teddy Fusaro emphasized that the simplification of procedures paves the way for the emergence of new investment products and attracts a broader range of investors.
First Products and Market Prospects
It is expected that among the first ETFs that could appear on the market as early as October will be funds based on Solana and XRP. Their applications were submitted over a year ago, but the SEC has repeatedly postponed their review. SEC Chair Gary Gensler stressed that the adopted policy aims to stimulate innovation and lower barriers for the industry, while the Trump administration supports initiatives for the development of digital assets.
Experts note that despite the opening of new opportunities, the path to launching ETFs will remain challenging — market participants will have to address a number of issues, including marketing, legal support, and collaboration with providers.
“Yes, the gate is open, but there is still a lot of work ahead: marketing, legal documentation, working with providers,” noted Steve McClurg, head of Canary Capital.
It is worth adding that the SEC recently released proposals for reforming cryptocurrency regulation, increasing focus on the development of this market.