The Securities and Exchange Commission approved rule changes for new cryptocurrency and spot commodity exchange-traded products. This paves the way for dozens of new spot ETFs tied to various cryptocurrencies. The new process will reduce the time from filing to launch to 75 days from 240 days. This move is seen as a watershed moment in America’s regulatory approach to digital assets.

The first ETFs likely to launch under the new rules will track solana and XRP. The Trump administration has aligned itself with the crypto community, leading to a more favorable view of digital assets. Asset managers are eager to take advantage of the new approval process, with some products expected to debut as soon as October.

The generic listing standards offer pathways for asset managers to seek spot ETF approval. Most are expected to expedite approvals for crypto ETFs with futures contracts regulated by the CFTC existing for at least six months. This approval is anticipated to open the floodgates for more tokens to qualify for ETFs.

Read more at Yahoo Finance: SEC paves way for crypto spot ETFs with new listing rules