"The U.S. Securities and Exchange Commission (SEC) recently adopted updated standards for ETF listings. Under these rules, ETFs that meet predefined criteria no longer require individual regulatory review, significantly reducing approval times. Industry sources report that the approval process could shrink to 75 days or less, compared with up to 270 days under previous procedures. The new standards are designed to streamline market entry for ETFs tied to a broader range of cryptocurrencies, including solana, XRP, and cardano."
"Several firms have already submitted ETF filings under the new standards. Steven McClurg, founder of Canary Capital Group, noted that roughly a dozen filings are currently under review, with additional submissions anticipated. These filings target cryptocurrencies beyond bitcoin and ethereum, signaling potential diversification for investors. Analysts expect the first ETFs approved under the new rules to appear in early October."
The U.S. Securities and Exchange Commission adopted updated ETF listing standards that remove individual regulatory review when predefined criteria are met. Approval times can shrink to 75 days or less, down from as long as 270 days under previous procedures. The standards permit ETFs tied to a broader range of cryptocurrencies, including solana, XRP, and cardano, to enter the market more quickly. About a dozen filings are under review with more expected, and analysts anticipate initial approvals in early October as firms revise filings per SEC feedback. Grayscale launched the Grayscale CoinDesk Crypto 5 ETF after converting under the revised process, signaling immediate market activity.
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