The SEC has simplified listing rules for cryptocurrency ETFs.
Date: 2025-09-19 Author: Oliver Abernathy Categories: BUSINESS
The US Securities and Exchange Commission (SEC) has adopted a decision that should significantly speed up the process of introducing spot cryptocurrency ETFs to the market. Under the new regulations, major exchanges—Nasdaq, Cboe, and NYSE Arca—can now list such products without submitting individual applications. Compliance with the general standards set forth in the SEC's document (Release No. 34-103995) is sufficient.
Unified Listing Rules
The updated requirements apply to funds issued as trusts and reflecting the value of cryptocurrencies or related assets, including futures. Listing is possible through Rule 19b-4(e), eliminating the need for lengthy SEC approval.
Key conditions include the underlying asset being listed on a trading platform that is part of the Intermarket Surveillance Group or being used in futures with at least a six-month trading history. Joint oversight agreements between exchanges also remain mandatory. Furthermore, exchanges must disclose the structure of funds and their redemption rules.
SEC Chairman Paul Atkins noted that the new rules "reduce barriers to investor access to digital assets and ensure the competitiveness of the U.S. market." He stated that this decision will allow ETFs to be launched much more quickly than before.
Which cryptoassets will be first to receive access?
Funds targeting cryptocurrencies such as Solana, XRP, Litecoin, and Dogecoin have already received expedited review. Approval is planned for products based on Avalanche, Chainlink, Polkadot, and BNB.
Bloomberg analyst James Seyffarth called the SEC initiative a long-awaited step for the industry. He believes the new rules will pave the way for a whole series of investment solutions that could attract a wide range of investors.
Controversy within the Commission
Despite the positive impact on the market, there has been criticism within the SEC itself. Commissioner Caroline Crenshaw expressed concerns that the accelerated listing process could lead to an influx of insufficiently vetted products. She emphasized that some of the responsibility for risk assessment has effectively shifted to exchanges, increasing the likelihood of investor protection failures.
Thus, the new SEC rules create favorable conditions for the rapid emergence of cryptocurrency ETFs in the US, but at the same time, they spark a debate about the balance between the speed of innovation and investor safety.
