SEC Moves on “Accelerated Basis”
The U.S. Securities and Exchange Commission (SEC) has taken a dramatic step toward streamlining the crypto ETF approval process. In a Wednesday filing, the regulator announced that it approved new generic listing standards on an “accelerated basis,” citing “good cause” to fast-track the rule.
This move marks a sharp departure from the long, drawn-out process that has historically slowed ETF approvals in the U.S. crypto sector.
Nasdaq, NYSE, and Cboe Get Green Light
The approval stems from proposals submitted by Nasdaq, NYSE Arca, and Cboe BZX Exchange, which sought amendments to allow the generic listing and trading of Commodity-Based Trust Shares under Rule 14.11(e)(4).
Previously, exchanges had to navigate the 19b-4 filing process for each individual crypto ETF. That system often stretched approval timelines to as long as 240 days, creating bottlenecks for asset managers and frustrating investors waiting for broader exposure to digital assets.
Now, with the new listing standards in place, certain ETFs will be able to move through the system in as little as 75 days — and without the need for the cumbersome 19b-4 process, provided they meet the updated requirements.
SEC Signals Support for Innovation
SEC Chair Paul Atkins welcomed the decision, framing it as a win for investors and innovation alike.
The decision is expected to have a profound effect on the dozens of crypto ETF applications currently in limbo, including funds tracking everything from Solana (SOL) and XRP to Dogecoin (DOGE). Analysts say the streamlined process could open the floodgates for a wide range of crypto-linked investment products.
Grayscale Gets Its ETF Conversion
In another major move, the SEC also approved the listing and trading of the Grayscale Digital Large Cap Fund. Long a point of contention, Grayscale had previously seen its request to convert the over-the-counter product into an exchange-listed ETF paused.
Now, with approval in hand, the fund — composed of nearly 80% Bitcoin, 11% Ethereum, and smaller allocations to Solana, Cardano, and XRP — will finally join the growing lineup of regulated crypto investment products.
The approval signals a broader shift in tone from the SEC, which under previous leadership had often leaned toward stalling, delaying, or outright rejecting crypto ETF applications.
Implications for the Crypto Market
By slashing approval timelines and enabling generic listings, the SEC is effectively removing one of the biggest hurdles standing between crypto investors and mainstream financial products.
The decision not only validates the growing role of digital assets in traditional markets but also strengthens the U.S.’s position against international competitors that have already embraced crypto ETFs.
With Wall Street heavyweights like Nasdaq and the NYSE now cleared to move faster, investors could soon see a wave of ETFs tied to major cryptocurrencies hitting the market.
