SEC Sets General ETF Listing Standards for Fast Approvals
The US Securities and Exchange Commission has signed off on new standards that could accelerate the approval process for spot cryptocurrency ETFs, removing the need for each application to be assessed on an individual basis.
The decision, filed on exchanges including Nasdaq, NYSE Arca, and Cboe BZX, introduces Rule 6c-11 to streamline approvals. This significantly shortens the review process, which in the past has taken months.
“By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets,” SEC Chair Paul Atkins said. He added, “This approval helps to maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets.”
Industry views it as a bullish signal
The timing comes as spot ETF applications for Solana, XRP, Litecoin, and Dogecoin await decisions, along with others such as Avalanche, Chainlink, Polkadot, and BNB. The SEC had upcoming deadlines from October onward to respond to these filings.
Bloomberg analyst James Seyffart described the development as “the crypto ETP framework we’ve been waiting for” and suggested that a wave of crypto investment products could launch in the United States in the weeks and months ahead.
Conditions and investor concerns
To qualify, a crypto spot ETF must either be tied to a commodity trading on a market that belongs to the Intermarket Surveillance Group with surveillance access, or linked to a futures contract listed on a designated contract market for at least six months with a surveillance-sharing agreement in place. An ETF may also qualify if it is already tracked by another fund with at least 40% exposure listed on a national securities exchange.
Exchanges that seek to list crypto ETFs outside of these criteria will still need to file individually with the SEC.
However, Commissioner Caroline Crenshaw raised concerns about the fast-tracking approach, saying it could introduce products that lack thorough investor protection reviews.
“The Commission is passing the buck on reviewing these proposals and making the required investor protection findings, in favor of fast tracking these new and arguably unproven products to market,” she warned.
Sources:
https://www.sec.gov/files/rules/sro/nasdaq/2025/34-103995.pdf