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ARTICLE · 24 SEPTEMBER 2025

The Wait Is Over: SEC Approves Generic Listing Standards Benefitting Commodity-Based ETPs

K&L Gates
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Marking a monumental step forward for the launch of crypto asset exchange-traded products (ETPs), the Securities and Exchange Commission (SEC) approved rule changes...

United StatesFinance and Banking
Keri E. Riemer
Keri E. Riemer

Marking a monumental step forward for the launch of crypto asset exchange-traded products (ETPs), the Securities and Exchange Commission (SEC) approved rule changes by three exchanges to adopt generic listing standards for ETPs that hold spot commodities, including crypto assets. Provided that the ETPs satisfy certain conditions, they will be able to be listed and commence trading more quickly, as their exchanges will not need to submit proposed rule changes for each issuer.

Generally, to rely on the SEC's order, each commodity held by the ETP, or each commodity underlying the commodities-based assets held by the ETP, must trade on an established futures market. In addition, among other things, the ETPs may not be registered investment companies and must be designed to reflect the performance of at least one reference asset or index thereof. Eligible ETPs may hold one or more commodities or commodity-based assets, including crypto assets, and may also hold

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