On September 19, 2025, the U.S. Securities and Exchange Commission (SEC) approved a set of generic listing standards for spot crypto exchange-traded products (ETPs), enabling issuers to list new funds without undergoing individual Section 19(b) rule filings. The new framework applies to “commodity-based trust shares” across regulated exchanges including Nasdaq, Cboe BZX and NYSE Arca, provided the underlying crypto assets trade on markets with intermarket surveillance agreements or maintain a CFTC-regulated futures listing for at least six months.
The SEC’s decision is expected to accelerate the launch of new crypto ETFs by reducing procedural delays and lowering compliance costs. Historic data from the approval of generic listing standards for bond and stock-based ETFs in 2019 showed the number of launches more than tripled within a year, rising from 117 to 370. Market participants anticipate a similar surge in crypto products, expanding institutional and retail access to assets beyond bitcoin and ether.
Industry analysts and fund managers caution, however, that the mere existence of simplified listing standards does not ensure inflows. Matt Hougan, Chief Investment Officer at Bitwise Asset Management, noted that fund performance and investor interest hinge on underlying asset narratives and market conditions. Early spot ether ETF launches required nearly a year to attract substantial capital, driven by stablecoin activity and broadening investment narratives around Ethereum.
ETF analyst Nate Geraci of NovaDius Wealth Management stated that the “crypto ETF floodgates are about to open,” forecasting a deluge of filings and product launches. However, he emphasized that investor demand will concentrate on assets with clear use cases and robust trading volumes. Large-cap altcoins such as Dogecoin, XRP, Solana, Sui and Aptos are poised to benefit, as they become eligible for inclusion in mainstream brokerage platforms and retirement accounts.
The regulatory shift marks a watershed moment for the crypto industry, removing procedural drag and supporting the maturation of digital asset markets. Market observers expect continued refinements to listing rules and potential expansion of product categories, including leveraged and active ETFs, as the industry adjusts to the new listing regime.
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