U.S. Greenlights Generic Rules, Opening Door for Altcoin ETFs
The U.S. SEC has approved generic listing standards, making it easier for exchanges to launch spot crypto ETFs without lengthy approvals.
The U.S. Securities and Exchange Commission (SEC) has approved generic listing standards that will allow exchanges to list crypto exchange-traded products (ETPs) without needing individual approval for each case. This change streamlines the process, enabling faster launches of spot crypto ETFs.
According to Bloomberg the rule covers assets with a regulated futures market, such as those listed on Coinbase. Currently, around a dozen cryptocurrencies meet the requirement, including Bitcoin (BTC) and Ethereum (ETH).
SEC Chairman Paul Atkins called the move a step toward expanding investor choice and fostering innovation.
The regulator also approved the Grayscale Digital Large Cap Fund and Bitcoin ETF options but delayed a decision on the Truth Social Bitcoin ETF.
SOURCES
U.S. Securities and Exchange Commission (SEC) – Official: sec.gov
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