(Reuters) – Asset managers are gearing up to launch funds that can be traded on cryptocurrency exchanges. They’re eager to tap into the growing enthusiasm surrounding digital assets while navigating the somewhat slower regulatory landscape to introduce their products.
Last week’s announcement by the Securities and Exchange Commission regarding updates to ETF standards might boost interest in cryptocurrency-related exchange offerings. This includes everything from Solana to Dogecoin.
The ETFs for more established cryptocurrencies like Bitcoin and Ethereum initially rolled out in 2024 under earlier, stricter guidelines. These earlier rules imposed higher requirements for issuers and exchanges.
Currently, there are plenty of SEC filings for new products linked to 21 U.S. ETFs that either hold Bitcoin, Ethereum, or other coins in various combinations.
Analysts are hopeful that the first product approved under the newly adjusted ETF rules related to cryptocurrencies like Solana and XRP will make its debut in early October.
“We’re looking to help you get started,” said Steven McClurg, who founded Canary Capital Group, a firm focused on digital asset investment management. He added, “We’re all gearing up for the upcoming product launches.”
Since the SEC proposed new listing standards in July, many companies have been hurrying to refine their filings to comply with recent SEC inquiries.
Sources familiar with the issue mentioned that the final set of revisions is due by the end of this week.
“These filings often align significantly during the review process,” noted Teddy Fusaro, president of Bitwise, a cryptocurrency management firm. “We anticipated these rules.”
The SEC has not responded to requests for comments.
The recent vote to adopt the new listing criteria removes the need for separate regulatory reviews for each individual Crypto ETF application. Products that meet predefined conditions can now be launched more quickly, with industry insiders predicting a reduction in approval times from 270 days to just 75.
Jonathan Groth, a partner at DGIM Law, mentioned that the fourth quarter of 2025 seems to be shaping up as a promising period for Crypto ETF publishers.
Grayscale Investments wasted no time and launched a new Grayscale Coindesk Crypto 5 ETF within 48 hours of the SEC allowing conversions from publicly offered to privately offered funds.
This Grayscale ETF includes two currencies for which the Spot ETF is already available, plus XRP, Solana, and Cardano.
Peter Mintzberg, Grayscale’s CEO, stated that the approval of this ETF highlights Grayscale’s support for “open market access, regulatory clarity, and product innovation.”
To qualify for the faster approval processes, ETFs must meet at least one of three essential criteria: The supporting coins must either be traded in regulated markets or have a futures contract regulated by the U.S. Commodity Futures Trading Commission that’s been traded for a minimum of six months.
Another route to approval is if there’s an existing ETF—not based on options or swaps—associated with coins where at least 40% of its assets are invested directly in cryptocurrency.
The CFTC opted not to comment.
“Not all existing filings meet the requirements,” explained Kyle Dacruz, director of Digital Assets Product at asset manager VanEck. “Next, we’ll need to consult our legal team to see which products can progress and how quickly they can get to market.”
There’s still some uncertainty about the potential appeal of various crypto ETFs that involve lesser-known coins and their roles in investor portfolios.
