SEC Streamlines Crypto ETF Approval Process, Greenlights Grayscale Large-Cap Fund

The U.S. Securities and Exchange Commission (SEC) has implemented groundbreaking rule changes that significantly simplify the listing process for spot cryptocurrency ETFs. The new framework allows exchanges to list commodity-based ETPs, including crypto products, without requiring individual SEC approval for each listing. This revolutionary decision eliminates the lengthy 19(b) rule filing process that previously took up to 240 days. Instead, ETF issuers can now approach major exchanges like Nasdaq, NYSE, and CBOE directly. If their proposed cryptocurrency strategy meets generic listing standards, exchanges can proceed immediately with ETF listings. SEC Chairman Paul Atkins emphasized that these changes reduce barriers to digital asset products in regulated U.S. markets. "We are ensuring that our capital markets remain the best place in the world to engage in digital asset innovation," Atkins stated. Concurrently, the SEC approved Grayscale's Digital Large Cap Fund, which tracks the CoinDesk 5 Index featuring Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The regulator also authorized options trading on the Cboe Bitcoin U.S. ETF Index, expanding crypto-linked derivatives in regulated markets. Industry experts predict this will trigger a wave of spot-based altcoin ETFs. Bloomberg Intelligence analyst James Seyffart noted, "This is the crypto ETP framework we've been waiting for. Expect numerous spot crypto ETP launches in coming weeks." The Solana Policy Institute's president called this "a net-positive for U.S. investors, markets, and digital asset innovation."