SEC Rule Change Sets Stage for Wave of Crypto ETFs

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This week, the U.S. Securities and Exchange Commission made its first serious move to change that.

The agency signed off on new “generic listing standards” that let Nasdaq, Cboe, and the New York Stock Exchange list commodity-based trust shares without sending every single product through a full-blown, months-long review. In theory, the new rules cut red tape and give ETF issuers a clearer, faster route to market.

Still, not a free pass

Market watchers caution that the change doesn’t open the floodgates. Fox Business reporter Eleanor Terret pointed out that threshold requirements remain in place, and some funds will still face roadblocks. Tushar Jain of Multicoin Capital agreed, saying the framework will likely evolve over time and require additional tweaks before it covers a wider range of digital assets.

Pressure builds ahead of October deadlines

The update lands just as the SEC is staring down final deadlines for multiple altcoin ETF applications in October. The regulator has repeatedly pushed those decisions back, frustrating issuers and traders alike. Some analysts see this new order as a sign the agency is trying to speed things up, at least for certain products.

Years of friction, now a turning point

The SEC’s relationship with crypto ETFs has been marked by hesitation and lengthy reviews, with issuers often waiting years for a response. By approving uniform standards, the agency is signaling it wants a smoother process that still preserves oversight. The Sept. 17 order was granted on an “accelerated” basis — a word rarely used in the SEC’s playbook for crypto products.

The bigger picture

While the new approach won’t immediately clear the way for every altcoin ETF, it does mark a shift in how the SEC sees its role. Instead of gatekeeping case by case, it’s laying the groundwork for a system where crypto ETPs can be handled more like traditional commodity products. Whether that means billions in inflows for altcoin-linked ETFs depends on what the SEC does next.


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