SEC's "Listing Standards" for crypto ETPs is out, coins trading on Coinbase for 6 months are eligible
The SEC has put out new exchange filings that spell out generic listing standards for crypto asset ETPs. Any token that has been traded on Coinbase’s derivatives market for more than six months would qualify. This will cover a dozen large assets.
The Chicago Board Options Exchange (CBOE) asked the US Securities and Exchange Commission (SEC) to change a rule that could have a big effect on how crypto exchange-traded funds (ETFs) are approved.
The SEC's "Listing Standards" for crypto ETPs is out via new exchange filing. BOTTOM LINE: Any coin that has futures tracking it for >6mo on Coinbase's derivatives exchange would be approved (below is list). It's about a dozen of the usual suspects, the same ones we had at 85% or… https://t.co/QlzZnta7Yv pic.twitter.com/CmBr8XxAcM
— Eric Balchunas (@EricBalchunas) July 30, 2025
This plan intends to create a single set of rules for listing crypto funds. This might mean that any new fund wouldn’t have to get its own clearance.
According to Nate Geraci, an ETF expert, this is a very important submission. He said that if it is accepted, issuers won’t have to get separate clearance for each crypto ETF as long as they meet certain requirements.
Approvals to as early as October
The proposal will make it easier to stake by requiring a liquidity risk management scheme if fewer than 85% of the assets are available for rapid redemption.
First, the Solana ETPs, which must be approved by October 10. They will meet the Generic Listing Standards this fall if the Commission gives its okay.
However, this has to be commented on and looked over. The Comment Period will probably finish 21 days after the rule is published in the Federal Register, which is likely this week. This indicates that the rule could be on a path to finality in less than 60 days.
Meanwhile, there are a handful of pending ETP applications right now, like the Solana and XRP ETPs. Before the Solana deadline of October 10 and the XRP deadline just a little later, the SEC could choose to act directly on those ETP 19b-4s or let them run out under GLS.
According to Greg Xethalis, a lawyer, XRP futures would have a timetable that was a little later because they came out after SOL futures. Still, it looks quite likely that SOL and XRP ETPs will be available by the start of Q4. They will include in-kind and probably include stakes for SOL.
The crypto industry makes regulatory processes easier.
NYSE Arca has also filed a similar document, which shows that the whole industry is working to make regulatory processes easier.
Currently, exchanges have to file a 19b-4 form for each new crypto ETF. This starts a long and sometimes complicated review process by the SEC.
This filing comes shortly after the SEC approved in-kind creations and redemptions for crypto ETFs, aligning them more closely with traditional fund structures. These changes are a big step toward making crypto a part of traditional banking systems.
The White House also put out fresh ideas to bring crypto rules in line with those of traditional banking. This showed that there was a coordinated effort to update the rules.
The Working Group on Digital Assets, which is part of the US President Donald Trump’s administration, has put out a 168-page policy paper that calls for clearer rules for trade and fewer limits on blockchain innovation.
The report also says that bureaucratic hurdles that slow down the release of new financial products should be gotten rid of. The GENIUS Act, which President Trump signed into law earlier this month, set up a wider set of rules for stablecoins.
The House of Representatives also enacted the CLARITY Act and the CBDC Anti-Surveillance State Act. These laws focus on the structure of the crypto market and place limits on central bank digital currency.Both bills are set to be reviewed by the Senate following the August recess.
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