#SECETFApproval

The U.S. Securities and Exchange Commission (SEC) has been actively involved in the approval of various Exchange-Traded Funds (ETFs), particularly those related to cryptocurrencies. Here's a summary of the current situation:

Recent Approvals and Developments:

* Spot Bitcoin ETFs: The SEC approved the listing and trading of several spot Bitcoin ETFs in January 2024, a significant milestone for the cryptocurrency market.

* Spot Ethereum ETFs: In May 2024, the SEC approved rule changes (19b-4 forms) permitting the listing and trading of eight separate spot Ethereum ETFs. While these were approved for trading, their individual S-1 registration statements are still under review and need to be approved before they can be publicly launched. The SEC also approved options trading on spot Ethereum ETFs in April 2025.

* Streamlined Crypto ETF Approval Process: As of early July 2025, the SEC is reportedly working on a new framework that could significantly cut down the approval time for token-based ETFs from six months or more to as little as 75 days. This involves developing a universal listing standard, potentially allowing issuers to bypass the lengthy 19b-4 process if a token meets certain criteria.

* New Guidance for Crypto ETF Issuers: The SEC has issued comprehensive guidance for crypto ETF issuers, requiring clear explanations in "plain English" of factors that differentiate these products from traditional ETFs, including custody arrangements, risk factors, and operational challenges.

* Grayscale's Multi-Crypto ETF: The SEC initially approved Grayscale's multi-crypto ETF (Grayscale Digital Large Cap - GDLC) but later announced a review of the decision, effectively pausing its listing indefinitely. This review is believed to be aimed at clarifying the administrative process for future approvals of similar multi-crypto ETF products.

* Trump Media's Bitcoin & Ethereum ETF: Trump Media & Technology Group has filed paperwork with the SEC for a "Crypto Blue Chip ETF"