The SEC just pulled off the biggest regulatory flip in crypto’s history.

For a decade, every crypto spot ETF fight was trench warfare: 240-day reviews, endless filings, political stalls. Now US exchanges can launch spot crypto ETFs in 75 days under a standardized rulebook. At the same time, the SEC cleared Grayscale’s multi-asset Digital Large Cap Fund and approved p.m.-settled bitcoin options. [Announcement]

Expect 100+ ETFs in the next 12 months — Solana, XRP, DOGE, you name it.

Pair that with the Fed’s 25 bps rate cut (to 4.0–4.25%) and two more cuts signaled this year, and the message is clear: capital is getting cheaper just as digital assets are becoming easier to package, list, and distribute at scale.

Subscribe now New U.S. SEC Chief Paul Atkins Says Agency Doesn't Have to Wait to Impose Crypto Policy

What’s happening

Instead of the old case-by-case filings, exchanges can now list eligible commodity trust shares without separate SEC rule filings, provided the products meet the generic standards and surveillance/eligibility criteria. The Commission also approved p.m. settled options tied to the Cboe Bitcoin U.S. ETF Index.

Why it matters: Faster, repeatable approvals change the economics of crypto product distribution. Asset managers can scale multi-asset and token-specific ETPs without bespoke regulatory battles, exchanges can monetize listings more rapidly, and institutional investors get on-ramp options with traditional custody and oversight. But the move also centralizes the burden on surveillance, custody providers and market makers; failures there would cascade faster across on-exchange products.