Financial Markets and Funds Partner James Brady was quoted in Law360 discussing the Securities and Exchange Commission's (SEC) recent approval of new generic listing standards for crypto exchange-traded products (ETPs). The SEC's move allows major exchanges — including Nasdaq, Cboe BZX Exchange, and NYSE Arca — to list ETPs holding spot commodities, such as digital assets, without the need for individual rule change proposals for each product.
James noted that the adoption of these generic listing standards significantly streamlines the process for bringing crypto ETPs to market, reducing approval times. "So in the end, this doesn't mean the products will be effective immediately without any SEC oversight or approval at all. But it does mean that the process will be much easier and typically take three to four months instead of a half-year, three-quarters of a year or more." He explained that while the SEC will continue to review registration statements, the new rules eliminate the need for lengthy, case-by-case rule change approvals, making the process "much simpler." James emphasized that issuers will still engage in dialogue with the SEC to address any concerns, but the overall path to market is now more efficient and predictable.
"SEC Eases Path for Crypto ETPs With New Listing Rules," Law360, September 18, 2025
*Subscription may be required for article access.
Chicago
