- SEC’s new rules allow ETP listings for tokens with 6 or more months of futures trading on Coinbase Derivatives.
- Generic standards may eliminate case by case crypto ETF filings, accelerating multi asset fund approvals.
- Solana and XRP ETPs could meet new listing criteria by October, backed by CBOE, NYSE Arca, and pending Nasdaq support.
The U.S. Securities and Exchange Commission (SEC) has initiated new steps to streamline crypto ETF approvals, laying out uniform listing standards for crypto-based exchange-traded products (ETPs).
In a recent filing, the SEC detailed new rules that will permit any crypto token with more than six months of futures trading on Coinbase Derivatives to qualify for ETP listing. This regulatory move may fast track the approval process for major altcoin funds, particularly Solana and XRP, both of which have pending applications.
Industry analysts, including Bloomberg’s Eric Balchunas, suggest that approvals may roll out by September or October, potentially unlocking a dozen new ETPs in the coming months.
New Filing Reduces Need for Case-by-Case ETF Approvals
Under the current framework, exchanges must submit a separate 19b-4 filing for every new crypto ETF, leading to lengthy SEC reviews. The latest proposal, however, seeks to establish generic listing standards that could eliminate the need for individual approvals if products meet the set criteria.
According to ETF analyst Nate Geraci, this could be a major shift, allowing multiple products to clear regulatory review simultaneously. The Chicago Board Options Exchange (CBOE) submitted the proposal, which introduces a liquidity risk management rule requiring at least 85% of fund assets to be quickly redeemable.
This is designed to reduce volatility and improve fund stability. The rules also permit in-kind redemptions and staking, which were previously restricted under older frameworks. Solana’s upcoming ETP is expected to meet these listing criteria by October 10, with XRP likely to follow soon after.
Multiple Exchanges Join Push for Regulatory Clarity
Following CBOE’s lead, NYSE Arca has also filed for the same universal listing structure. Nasdaq is expected to follow, reflecting a broader industry effort to ease the launch of crypto ETPs. These coordinated filings coincide with the SEC’s recent approval of in-kind creations and redemptions, aligning crypto funds more closely with traditional asset structures.
Notably, the SEC’s 21-day comment period is expected to begin once the rule is published in the Federal Register this week. If there are no major objections, the rule could reach finalization in under 60 days. This would give the SEC enough time to act on pending filings before the Solana and XRP deadlines.
Legislative Backing Accelerates Crypto Market Integration
Regulatory moves by the SEC appear to align with broader federal actions aimed at integrating crypto into traditional finance.
The White House recently proposed updated guidelines through a 168-page digital asset policy paper under the Trump administration. The document calls for streamlined regulations and fewer administrative delays in releasing new financial products.
Additionally, Congress has taken parallel steps. The House passed both the CLARITY Act and the CBDC Anti-Surveillance State Act, focusing on crypto structure and limits on central bank digital currencies.
The GENIUS Act, already signed into law, outlines new requirements for stablecoins. These legislative efforts complement the SEC’s approach by building a clearer legal framework for the industry.
The SEC’s proposed standards is a turning point for crypto ETPs, with Solana and XRP positioned for potential Q4 launches. Backed by legislative momentum and coordinated filings from major exchanges, the path for regulated crypto investment products is fast taking shape.
