The U.S. Securities and Exchange Commission (SEC) has approved generic listing standards for crypto exchange-traded funds (ETFs) — something that will significantly speed up the approval process.

Under the new rules, a crypto ETF can list quickly as long as it trades on an exchange that’s part of the Intermarket Surveillance Group, which has systems to watch for market fraud, or is the underlying asset for a futures contract that’s been listed on a regulated market for at least six months, with agreements to share market data for monitoring purposes.

ETFs with at least 40% of their assets invested in a crypto that’s already tracked by another ETF listed on a major U.S. exchange would also be eligible to list under the new standards.

This story is an excerpt from the Unchained Daily newsletter.

“This approval helps to maximize investor choice and foster innovation by streamlining the listing process and reducing barriers to access digital asset products within America’s trusted capital markets,” said SEC Chairman Paul Atkins in a statement.

Bloomberg ETF analyst Eric Balchunas explained that generic listing standards would enable crypto ETFs to launch with a fast-tracked timeline, so long as they have futures on Coinbase. 

Currently, crypto futures on Coinbase include BTC, ETH, LTC, SOL, DOT, DOGE, ADA, AVAX, LINK, XLM and XRP.