The SEC has published the filing notice, confirming that the regulatory change has taken effect immediately. This adjustment means that both ETFs can now trade under generic listing standards. Previously, each required separate SEC approval to list. With the new framework, they can continue to trade without the need for specific authorization.
NYSE Arca implemented the change despite both funds already having approval orders. Recently, the SEC confirmed that faster approval timelines for cryptocurrency ETFs will apply to a wider range of products, such as XRP, SHIB, and HBAR, under the same regulatory framework.
The Grayscale Ethereum Trust ETF was first approved in May 2024, and the Mini Trust ETF received approval in July 2024. Those approvals linked the funds to the conditions of the original orders.
When adapting them to the new generic standard, NYSE Arca ensures that ETFs operate under the same simplified standards that are already available for other commodity-based trust securities. This avoids delays from repeated requests and aligns the funds with the new regulatory framework of the SEC.
This change comes after a broader policy shift. Recently, the SEC approved generic listing rules for commodity-based trust securities.
Additionally, these standards allow products that meet the requirements to be included in the market without the need for separate approval orders. This means that Grayscale's Ethereum ETFs can continue to operate smoothly, but will now operate under a more clearly defined set of rules.
