On September 17, 2025, the SEC approved generic listing standards for spot commodity- and digital asset-based exchange-traded products (ETPs) proposed by Cboe BZX, Nasdaq, and NYSE Arca1.
This marks a structural shift from the SEC’s historic case-by-case approval process — where reviews could last up to 240 days — to a standardized fast-track framework. Think of flying business class now instead of economy. For issuers, this reduces cost and uncertainty and significantly shortens time-to-market. For investors, it broadens access to regulated crypto exposure.
We believe this is the most important regulatory development for digital assets since the approval of the first Bitcoin ETFs.
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