- SEC cuts ETF approval timeline from 240 to 75 days, fast-tracking crypto fund launches.
- New Rule 6c-11 lets major exchanges list crypto ETFs, boosting innovation and investor choice.
- XRP, Solana, Dogecoin, and Litecoin ETFs may advance under the streamlined SEC framework.
The US Securities and Exchange Commission approved new standards that enable faster listings of commodity-based trust shares, including digital assets. The decision removes the need for each application to undergo lengthy reviews, creating a shorter pathway for crypto spot ETFs to enter the market.
Faster Path for Crypto ETFs
According to SEC filings, Nasdaq, NYSE Arca, and Cboe BZX may now list eligible products under Rule 6c-11. This change reduces the timeline for review from up to 240 days under the 19b-4 process to as little as 75 days. The SEC said the approval was granted on an accelerated basis.
SEC Chair Paul Atkins stated, “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.” He added that the decision supports innovation and expands investor choice.
The approval also included the Grayscale Digital Large Cap Fund, which holds a diversified basket of cryptocurrencies such as Bitcoin, Ethereum, and XRP. The SEC said it found “good cause” to accelerate the approval before the standard comment period.
Broader Market Outlook and Reactions
The framework applies to ETFs that track commodities traded on monitored markets or that underlie regulated futures contracts. For products not meeting these conditions, exchanges must still file additional rules. Bloomberg ETF analyst James Seyffart described the decision as “the crypto ETP framework we’ve been waiting for,” suggesting it could trigger new launches.
Bitwise CIO Matt Hougan added that the move could “blow the market wide open” for digital asset funds. However, SEC Commissioner Caroline Crenshaw raised concerns, warning that the streamlined process may allow products without adequate investor safeguards.
Director of Trading and Markets Jamie Selway said the framework offers regulatory clarity while maintaining safeguards. Several pending spot ETF applications, including XRP, Solana, Dogecoin, and Litecoin, may now advance under the faster standards. This marks a turning point for crypto investment products in the United States.
