In a groundbreaking filing, the SEC is preparing to allow a common listing standard for cryptocurrency ETFs. This would allow ETF listings without a case-by-case approval process.
The language in the filing is based on Cryptoasset being commodities, not securities. However, the Commission is reclassifying many of these assets, theoretically allowing an XRP ETF along with many other new products.
Why common listing standards matter
The SEC has been quietly approving new cryptocurrency ETFs like XRP and Doge based products , but there has been no clear sign of broader adoption. A large wave of altcoin ETF filings continues to come to the Commission, but there has been no corresponding show of confidence.
Until today, when the SEC just took a broad step to approve a common listing standard for crypto ETFs:
“[Several leading exchanges] have submitted to the SEC proposed rule changes to adopt common listing standards for Commodity-Based Trust Shares. Each of the proposed rule changes… has been subject to notice and comment. This Order approves the Proposals on an accelerated basis,” the SEC filing states .
The proposals come from Nasdaq, CBOE, and NYSE Arca, all of which ETF issuers have used to submit their proposals. In other words, this decision on common listing standards could really change the way crypto ETFs are approved.
A New Era for Crypto ETFs
Specifically, these new standards will allow issuers to create compliant cryptocurrency ETF proposals. If these filings meet all of the Commission’s criteria, the underlying ETFs can trade on the market without needing direct approval from the SEC. This will remove a major bottleneck in the expected ETF creation process.
“By approving these common listing standards, we ensure that our Capital markets remain the best place in the world to participate in cutting-edge digital asset innovation. This approval helps maximize investor choice and foster innovation by simplifying the listing process,” SEC Chairman Paul Atkins said in a press release.
The SEC has been working on a fast-track approval process for crypto ETFs, but these common listing standards could get the job done. This rule change would rely on XEM Token as commodities rather than securities, but federal regulators have already reclassified assets like XRP .
If these standards work as advertised, ETFs based on XRP, Solana , and many other cryptocurrencies could be on the way. This quiet announcement could have big implications.
