The United States Securities and Exchange Commission (SEC) has approved generic listing standards to facilitate faster approval of spot crypto ETFs. Under the new standards, each application would not need to be assessed individually. 

According to SEC Chair Paul Atkins, the new listing standards will help reduce barriers to accessing digital assets, giving investors more choice in the market. 

SEC Approves Generic Listing Standards 

The SEC has approved generic listing standards that could help speed up spot crypto ETF approvals. Under the new standards, each application will not have to be assessed individually. The decision was included in SEC filings on Nasdaq, NYSE Arca, and Cboe BZX on Wednesday. It aims to streamline the approval process under Rule 6c-11, thereby substantially reducing approval times. SEC Chair Paul Atkins released a separate statement, 

“By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets. This approval helps to maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets.”

A Long List Of Pending Applications 

The approval of generic listing standards comes as several spot ETF applications by Solana, Ripple, and Litecoin await SEC approval. The SEC faces several deadlines in October, including decisions on Avalanche, Chainlink, Polkadot, and BNB. The decision has been hailed by industry experts, who believe it could give the market a bullish push. Bloomberg ETF analyst James Seyffart stated, 

“WOW. The SEC has approved Generic Listing Standards for ‘Commodity Based Trust Shares’, aka include crypto ETPs. This is the crypto ETP framework we’ve been waiting for. Get ready for a wave of spot crypto ETP launches in the coming weeks and months.”

However, SEC Commissioner Caroline Crenshaw flagged several concerns about the new listing standards. Crenshaw warned that the new standards could lead to a market flooded with products that h

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Author: Amara Khatri