SEC Greenlights Crypto ETPs: Coinbase-Listed Coins (6+ Months) Now Eligible Under New Listing Standards

The SEC just dropped its long-awaited playbook for crypto exchange-traded products—and Coinbase-listed assets are first in line.

The Coinbase Stamp of Approval

Tokens trading on Coinbase for at least six months now meet the SEC's bizarrely specific 'maturity' requirement. Because nothing says 'institutional-grade' like surviving a half-year on a platform that once crashed during Bitcoin's ATH rally.

Wall Street's Crypto Carve-Out

The standards effectively outsource due diligence to Coinbase's listing team—a bold strategy for an agency that sued them last year. TradFi brokers are already salivating over fresh commission streams, provided they can explain what an 'ETP' is to their boomer clients.

Regulators finally admit crypto isn't going away—by letting Wall Street monetize it first. How... efficient.

Approvals to as early as October

The proposal will make it easier to stake by requiring a liquidity risk management scheme if fewer than 85% of the assets are available for rapid redemption.

First, the solana ETPs, which must be approved by October 10. They will meet the Generic Listing Standards this fall if the Commission gives its okay.

However, this has to be commented on and looked over. The Comment Period will probably finish 21 days after the rule is published in the Federal Register, which is likely this week. This indicates that the rule could be on a path to finality in less than 60 days.

Meanwhile, there are a handful of pending ETP applications right now, like the Solana and XRP ETPs. Before the Solana deadline of October 10 and the XRP deadline just a little later, the SEC could choose to act directly on those ETP 19b-4s or let them run out under GLS.

According to Greg Xethalis, a lawyer, XRP futures would have a timetable that was a little later because they came out after SOL futures. Still, it looks quite likely that SOL and XRP ETPs will be available by the start of Q4. They will include in-kind and probably include stakes for SOL.

The crypto industry makes regulatory processes easier.

NYSE Arca has also filed a similar document, which shows that the whole industry is working to make regulatory processes easier.

Currently, exchanges have to file a 19b-4 FORM for each new crypto ETF. This starts a long and sometimes complicated review process by the SEC.

This filing comes shortly after the SEC approved in-kind creations and redemptions for crypto ETFs, aligning them more closely with traditional fund structures. These changes are a big step toward making crypto a part of traditional banking systems. 

The WHITE House also put out fresh ideas to bring crypto rules in line with those of traditional banking. This showed that there was a coordinated effort to update the rules.

The Working Group on Digital Assets, which is part of the US President Donald Trump’s administration, has put out a 168-page policy paper that calls for clearer rules for trade and fewer limits on blockchain innovation. 

The report also says that bureaucratic hurdles that slow down the release of new financial products should be gotten rid of. The GENIUS Act, which President TRUMP signed into law earlier this month, set up a wider set of rules for stablecoins. 

The House of Representatives also enacted the CLARITY Act and the CBDC Anti-Surveillance State Act. These laws focus on the structure of the crypto market and place limits on central bank digital currency.Both bills are set to be reviewed by the Senate following the August recess.

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