Market News
SEC paves way for crypto spot ETFs with new listing rules - REUTERS
Summary
- SEC commissioners vote to open crypto ETF floodgates
- Listing standards approval is latest push by crypto-friendly Trump administration
- Trading could begin in host of new products in October
Sept 17 (Reuters) - The Securities and Exchange Commission voted on Wednesday to approve proposed rule changes by three national securities exchanges, enabling them to adopt generic listing standards for new cryptocurrency and other spot commodity exchange-traded products.
The commission vote removes the last remaining hurdle to dozens of new spot ETFs tied to cryptocurrencies ranging from solana to dogecoin. In July, the SEC issued an order spelling out the details of the listing standards, which specify the criteria an asset manager and the exchanges -- the NYSE, Nasdaq and Cboe Global Markets -- must meet in order for a new spot crypto ETF to be approved without a lengthy, customized regulatory review. It is the latest step taken by the administration of President Donald Trump to bring crypto assets into the mainstream.
