According to ChainCatcher, the Corporate Finance Division of the U.S. Securities and Exchange Commission issued new guidelines on July 1, 2025, regarding disclosure requirements for exchange-traded products (ETPs) involving 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 securities categories under the Securities Act of 1933 and the Securities Exchange Act of 1934, and comply with federal securities laws' anti-fraud provisions.