According to ChainCatcher, the U.S. Securities and Exchange Commission's Division of Corporation Finance issued new guidelines on July 1, 2025, for the disclosure requirements of exchange-traded products (ETPs) for crypto assets, aimed at providing legal clarity.
The guidelines require issuers of crypto asset ETPs to disclose specific information in their offering and registration documents. ETPs are defined as investment products listed on national securities exchanges that typically hold spot crypto assets or derivatives.
According to the guidelines, ETP issuers must register their offerings and classes of securities under the Securities Act of 1933 and the Securities Exchange Act of 1934, and comply with federal securities law anti-fraud provisions.