SEC Eases Spot Crypto ETF Listing, Approves Grayscale’s Large-Cap Fund
The U.S. Securities and Exchange Commission (SEC) has approved new rules allowing exchanges to list exchange-traded products (ETPs) holding spot commodities, including cryptocurrencies, without requiring individual SEC review.
- Exchanges meeting generic listing standards can bypass the 19(b) rule filing process, which usually takes up to 270 days.
- SEC Chairman Paul Atkins stated this decision aims to reduce barriers in accessing digital asset products in regulated U.S. marketplaces.
- The SEC also approved Grayscale Digital Large Cap Fund, tracking assets like bitcoin, ether, XRP, Solana, and Cardano.
- Options tied to the Cboe Bitcoin U.S. ETF Index and its mini version were also approved, expanding crypto-linked derivatives in U.S. markets.
The new listing standards could pave the way for spot-based altcoin ETFs. Industry experts anticipate a surge of new spot crypto ETP launches following this regulatory change.