The U.S. Securities and Exchange Commission (SEC) approved general listing standards, reducing the review period for crypto ETF applications from 240 to 70 days.
“We have established sufficient grounds for early approval of proposals—before the expiration of the standard 30-day period following the publication of the notice of amendments in the Federal Register,” the document states.
The regulator also set clear criteria for listing funds on Nasdaq, NYSE Arca, and Cboe BZX exchanges. The product must be linked to an asset traded on ISG platforms or serve as the basis for a futures contract registered on an approved market for at least six months.
Another requirement is tracking an asset that is part of another ETF with a share of at least 40% and registered on a national stock exchange, the SEC clarified. Platforms not meeting the listed standards will need to submit a separate application.
“By approving these listing standards, we ensure that our capital markets remain the best place in the world to work with cutting-edge innovations in digital assets,” commented SEC Chairman Paul Atkins.
According to him, the regulator’s latest decision will expand investor choice and lower barriers to accessing cryptocurrency-based instruments.
On September 17, the Commission also approved the listing of the first multi-coin fund—Grayscale Digital Large Cap Fund. It includes five assets: Bitcoin, Ethereum, XRP, Solana, and Cardano, as stated by the company’s CEO.
Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the *FIRST* multi #crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano#BTC #ETH $XRP $SOL…
— Peter Mintzberg (@PeterMintzberg) September 17, 2025
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Bloomberg exchange analyst James Seyffart called the changes “the crypto ETF framework the market has been waiting for.” He predicted the launch of new investment products in the U.S. “in the coming weeks and months.”
WOW. The SEC has approved Generic Listing Standards for “Commodity Based Trust Shares” aka includes crypto ETPs. This is the crypto ETP framework we’ve been waiting for. Get ready for a wave of spot crypto ETP launches in coming weeks and months. pic.twitter.com/xDKCuj41mc
— James Seyffart (@JSeyff) September 17, 2025
His colleague Eric Balchunas shared a list of coins that meet the new SEC criteria for ETF listing on exchanges. These include Litecoin, Dogecoin, Polkadot, Avalanche, and many others.
Here’s a list of all the coins that have futures on Coinbase = eligible for spot ETF-ization pic.twitter.com/8hIo95GebT
— Eric Balchunas (@EricBalchunas) September 17, 2025
“Now [crypto ETFs] can be launched (without all the fuss and bureaucracy for each case) under the 1933 Act, as long as the coin has futures on Coinbase—and currently, only 12-15 coins do,” the expert emphasized.
Balchunas expects that at least 100 exchange-traded funds focused on digital assets will appear on the market within the next year.
Currently, the SEC is reviewing more than 90 applications from crypto ETF issuers.
In early August, NovaDius Wealth President Nate Geraci stated that half of the 20 most successful exchange-traded funds in the U.S. are linked to cryptocurrencies.