U.S. Securities and Exchange Commission (SEC) Approves Generic Listing Standards, Paving the Way for a Flood of Spot Cryptocurrency Exchange-Traded Funds (ETFs)
SEC Approves New Rules for Crypto ETF Listings, Signaling a Pivotal Shift
In a significant move for the crypto industry, the U.S. Securities and Exchange Commission (SEC) has voted to adopt proposed rule changes by three national securities exchanges - NYSE and Nasdaq. This decision marks a pivotal shift in how crypto products enter mainstream U.S. financial markets.
SEC Chair Paul S. Atkins stated that the approval helps maximize investor choice and fosters innovation by streamlining the listing process for exchange-traded funds (ETFs) that comply with the generic criteria. The changes provide a more rules-based and predictable framework for digital assets.
Under the new rules, exchanges may now list and trade crypto ETFs without needing to file rule change requests with the Commission. This simplified procedure saves the approval process to as short as 75 days, compared to the previous regulatory reviews that often took over 200 days.
The SEC's decision allows for the initial line of crypto ETF products to run by as early as October 2025. Asset managers are already preparing to file ETFs under the new standards, with UBS Asset Management leading the way. The company has submitted ETFs under the new rules, launching the UBS EUR Treasury Yield Plus UCITS ETF and UBS USD Treasury Yield Plus UCITS ETF, which are registered for sale in multiple European countries and likely available on the market since September 2025.
Deka and HANetf have also launched actively managed ETFs such as the Deka Active EUR High Yield UCITS ETF and Infrastructure Capital Preferred Income UCITS ETF, which appeared on market listings as of mid-September 2025.
The new rules also permit expediency approvals of tokens that are tied to current futures contracts controlled by the Commodity Futures Trading Commission (CFTC). This means that ETFs tied to Solana (SOL), XRP, Dogecoin (DOGE), and Litecoin (LTC) are now eligible for faster entry into the U.S. market.
Some commissioners, like SEC Commissioner Caroline Crenshaw, cautioned that rushing approvals could result in products entering the market without sufficient scrutiny. However, the new rules allow for expedited review of crypto ETFs that meet the generic listing criteria, removing the final regulatory bottleneck for pending ETF applications.
Analysts expect a surge of ETFs tied to various tokens to launch in coming weeks. Asset managers aiming to launch crypto ETFs no longer need to navigate case-by-case approvals, which should accelerate the launch of spot cryptocurrency exchange-traded funds (ETFs).
The U.S. has been lagging behind Europe and Asia in developing structures for crypto ETFs and tokenized assets, but the vote aligns the U.S. markets more with global trends. The SEC's decision aligns the U.S. markets with a higher level of investor protections, ensuring a secure and regulated environment for the growth of crypto ETFs.
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