The SEC approved generic listing standards that let NYSE Arca, Cboe BZX, and Nasdaq list spot crypto ETFs under Rule 6c-11, cutting review times and enabling faster launches of spot crypto ETFs across multiple issuers.
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SEC approves generic listing standards for spot crypto ETFs under Rule 6c-11
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Exchanges can now list ETPs if assets meet surveillance and trading-history requirements.
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Review window reduced to 75 days from a typical 240-day case-by-case timeline, speeding approvals.
Primary keyword: SEC generic listing standards for crypto ETFs — read how the rule change speeds approvals and what it means for markets. Learn more.
What is the SEC’s new Rule 6c-11 decision?
SEC generic listing standards for crypto ETFs allow NYSE Arca, Cboe BZX, and Nasdaq to adopt standardized criteria for listing spot crypto exchange-traded products (ETPs). The change replaces lengthy case-by-case reviews with a streamlined process and sets a 75-day maximum review window for new listings.
How does the new framework change ETF approvals?
The revised rule reduces administrative steps: exchanges can rely on a pre-approved generic standard rather than filing separate rule changes for each issuer. Eligibility requires markets with monitoring access or a surveillance-sharing agreement, or linkage to a futures contract with six months of trading history.
Why is this a major milestone for spot crypto ETFs?
The move ends a decade-long pattern of individual reviews that began after the first Bitcoin ETF filing in 2013. Institutional issuers and market participants pushed for a “first-to-file” approach to encourage competition and scale product launches.
Who supported the change and what did they say?
Industry voices including institutional issuers pressed the SEC for clarity. Teddy Fusaro, president of Bitwise Asset Management, called it “a watershed moment” that overturns decade-old precedent. Steve McClurg, CEO of Canary Capital, described the decision as opening the gates while cautioning that operational work remains.
What are the key technical requirements for eligible products?
Under the new standards, an underlying asset must either trade on a market with Intermarket Surveillance Group connectivity, have market monitoring access, or be linked to a futures contract with a minimum of six months of official trading history and a surveillance-sharing agreement.
Will this affect altcoin markets?
Market reaction was visible: XRP and SOL registered gains on the day of the announcement, while DOGE and LTC moved modestly. Price data referenced from CoinMarketCap reflected these intraday shifts; broader asset performance will depend on issuer filings and investor demand.
How will issuers and exchanges proceed under the new rules?
Issuers must submit ETP applications that meet the exchanges’ generic standards. Exchanges will certify listings if products meet surveillance, custody, and listing criteria. This should accelerate the timeline for filings and approvals while keeping compliance checks intact.
Will investors see more products soon?
Market watchers expect Solana and XRP ETF filings to be among early candidates under the new framework. Issuers are also exploring thematic products—examples include filings for tokenization and stablecoin-linked ETFs—aimed at broadening investor access to crypto-related exposure.
Frequently Asked Questions
How will Rule 6c-11 affect ETF competition?
By enabling a first-to-file dynamic and reducing approval friction, the rule is likely to intensify competition among issuers, accelerating product variety and pricing innovation for investors.
Does this remove investor protections?
No. Exchanges must certify robust surveillance, custody, and operational safeguards before listing; the standards focus on process efficiency, not on lowering compliance thresholds.
Key Takeaways
- Faster approvals: The SEC’s generic listing standards cut review windows to 75 days, enabling quicker product launches.
- Standardized criteria: Exchanges can certify ETPs that meet surveillance and trading-history requirements instead of repeated rule filings.
- Market impact: Expect increased issuer competition and a wave of spot crypto ETF filings, with Solana and XRP among leading candidates.
Conclusion
The SEC’s approval of generic listing standards for spot crypto ETFs under Rule 6c-11 represents a structural shift toward faster, more predictable product approvals. SEC generic listing standards should broaden investor access while preserving surveillance and custody safeguards. Issuers and exchanges now face an operational sprint to convert filings into live products.
Published by COINOTAG on 2025-09-17. Updated 2025-09-17.
