The U.S. Securities and Exchange Commission (SEC) has approved new generic listing standards for spot crypto exchange-traded funds (ETFs). This landmark decision bypasses the previous case-by-case approval process, streamlining the path for a wide range of new digital asset ETFs to enter the market.
Grayscale Secures First Multi-Crypto ETP
In a significant development, Grayscale’s Digital Large Cap Fund ($GDLC) became the first product to be approved under this new framework. This is the first diversified, multi-crypto ETP in the U.S., including major assets such as Bitcoin, Ethereum, XRP, Solana, and Cardano. This approval sets a precedent for a new era of portfolio-based crypto products on the market.
Altcoins Gain Eligibility
According to Bloomberg analyst Eric Balchunas, the new standards make 12-15 cryptocurrencies potentially eligible for a spot ETF. The key requirement is that the altcoin must have a regulated futures contract trading on Coinbase Derivatives for at least six months.
- Solana (SOL) is highlighted as an asset that met this criterion on August 19, following the launch of its futures contract in February 2024.
- The Litecoin Foundation and Chainlink community have also noted that their respective tokens, LTC and LINK, are now eligible, with applications for their ETFs already in progress.
- Dogecoin (DOGE) and Hedera (HBAR) are also among the assets that could soon see their own spot ETFs.
This new framework is viewed by market observers as a potential turning point for mainstream adoption, as it provides a clear and regulated pathway for investors to gain exposure to a diversified range of digital assets without the complexities of direct custody. Analysts anticipate that a new wave of crypto ETFs could be launched within weeks, expanding the U.S. market well beyond just Bitcoin and Ethereum.
September 2025, Cryptoniteuae
