On 17 September 2025 the U.S. Securities and Exchange Commission quietly published Release No. 34-103995, a 200-page technical document with a one-line market takeaway: crypto spot-ETFs no longer need case-by-case approval. Instead, any fund that meets three pre-defined “commodity-trust” criteria can list after a fast-track S-1 review, scrapping the 19b-4 rule-change procedure that has killed dozens of applications since 2018. The reform lands just as the Federal Reserve fires the starting pi...

On 17 September 2025 the U.S. Securities and Exchange Commission quietly published Release No. 34-103995, a 200-page technical document with a one-line market takeaway: crypto spot-ETFs no longer need case-by-case approval. Instead, any fund that meets three pre-defined “commodity-trust” criteria can list after a fast-track S-1 review, scrapping the 19b-4 rule-change procedure that has killed dozens of applications since 2018. The reform lands just as the Federal Reserve fires the starting pi...